On January 1, 2020, Garner Hot Rods issued $2,000,000 of 6%, 10-year bonds. Interest is payable semiannually

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On January 1, 2020, Garner Hot Rods issued $2,000,000 of 6%, 10-year bonds. Interest is payable semiannually on June 30 and December 31.
Required:
What is the issue price if the bonds are sold to yield 8%? (Note: Round to the nearest dollar.)

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Cornerstones of Financial Accounting

ISBN: 978-1337690898

4th edition

Authors: Jay Rich, Jeff Jones

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Question Posted: Dec 11, 2017 08:53 AM

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On January 1, 2020, Garner Hot Rods issued $2,000,000 of 6%, 10-year bonds. Interest is payable semiannually

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PV of interest payments 2000000 006 612 PV ...View the full answer

Cornerstones of Financial Accounting

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