Question: ( Appendix 9 A ) Bond Issue Price On January 1 , Ruby Inc. issued 4 , 5 0 0 of $ 1 , 0

(Appendix 9A) Bond Issue Price On January 1, Ruby Inc. issued
(Appendix 9A) Bond Issue Price
On January 1, Ruby Inc. issued 4,500 of $1,000 par value bonds with a stated rate of 6% and a 10-year maturity. Interest is payable semiannually on June 30 and December 31. Use Future Value of a Single Amount, Present Value of a Single Amount, Future Value of an Annuity and Present Value of an Annuity
Required:
What is the issue price if the bonds are sold to yield 4%? Round factors to five decimal places and final answer to the nearest dollar.
4,500 of $1,000 par value bonds with a stated rate of 6%

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