Question: Hartford Research issues bonds dated January 1, 2013, that pays interest semiannually on June 30 and December 31. The bonds have a $26,000 par value

Hartford Research issues bonds dated January 1, 2013, that pays interest semiannually on June 30 and December 31. The bonds have a $26,000 par value and an annual contract rate of 12%, and they mature in 10 years.
Required:
Consider the following situation.
The market rate at the date of issuance is 10%.

Complete the below table to determine the bonds' issue price on January 1, 2013. TABLE VALUES ARE BASED ON: i = PRESENT VALUE CASH FLOW TABLE VALUE AMOUNT par (maturity) value Interest (annuity) Price of bonds

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