Question: On October 1, 2014, Eacom Timber Inc. has available for issue $840,000 bonds due in four years. Interest at the rate of 4% is to

On October 1, 2014, Eacom Timber Inc. has available for issue $840,000 bonds due in four years. Interest at the rate of 4% is to be paid quarterly. Calculate the issue price if the market interest rate is:
a.5%
b.4%
c.3%

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