Roman Destinations issues bonds due in 10 years with a stated interest rate of 6% and a
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Roman Destinations issues bonds due in 10 years with a stated interest rate of 6% and a face value of $500,000. Interest payments are made semi-annually. The market rate for this type of bond is 5%. Using present value tables, calculate the issue price of the bonds.
A). $537,194.
B). $464,469.
C). $538,972.
D). $500,000.
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