A company issues $100,000 at 12% 6-year bonds that pay interest semiannually. Bonds are issued when the market rate is 10%. The present value of an annuity table indicates that the present value factor for 5% in 12 periods is 8.8633. The present value of 1 table indicates that the present value factor for 5% over 12 periods is 0.5568. The present value of the price of the bond rounded to the nearest whole dollar is $

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1 Calculate the present value of the bond we need to first calcul... View the full answer