On December 31, 2012, Callahan Auto issued $1,500,000 of 8 percent, 10-year bonds. Interest is payable semiannually

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On December 31, 2012, Callahan Auto issued $1,500,000 of 8 percent, 10-year bonds. Interest is payable semiannually on June 30 and December 31.

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What is the issue price if the bonds are sold to yield 6 percent?

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Cornerstones of Financial and Managerial Accounting

ISBN: 978-1111879044

2nd edition

Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen

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Question Posted: Sep 22, 2015 03:09 AM

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On December 31, 2012, Callahan Auto issued $1,500,000 of 8 percent, 10-year bonds. Interest is payable semiannually

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PV of interest payments 1500000 008 612 PV ...View the full answer

Cornerstones of Financial and Managerial Accounting

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