On December 31, 2013, Interlink Communications issued 6% stated rate bonds with a face amount of $100

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On December 31, 2013, Interlink Communications issued 6% stated rate bonds with a face amount of $100 million. The bonds mature on December 31, 2043. Interest is payable annually on each December 31, beginning in 2014. Determine the price of the bonds on December 31, 2013, assuming that the market rate of interest for similar bonds was 7%.


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Intermediate accounting

ISBN: 978-0077647094

7th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson

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