Business
Cost Accounting
On January 1, 2021, Callahan Auto issued $900,000 of 9%,

On January 1, 2021, Callahan Auto issued $900,000 of 9%,

On January 1, 2021, Callahan Auto issued $900,000 of 9%, 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%?

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