On October 1, 2020, Eastern Timber Inc. has available for issue $840,000 bonds due in four years.

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On October 1, 2020, Eastern Timber Inc. has available for issue $840,000 bonds due in four years. Interest at the rate of 4% is to be paid quarterly. Calculate the issue price if the market interest rate is:

a. 5%

b. 4%

c. 3%

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Fundamental Accounting Principles Volume II

ISBN: 978-1260305838

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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Question Posted: Dec 18, 2019 05:13 AM

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On October 1, 2020, Eastern Timber Inc. has available for issue $840,000 bonds due in four years.

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Fundamental Accounting Principles Volume II

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