Question: Daniel Jackson Company sells 8 % bonds having a maturity value of $ 2 , 0 2 5 , 0 0 0 for $ 1

Daniel Jackson Company sells 8% bonds having a maturity value of $2,025,000 for $1,871,471.00. The bonds are dated January 1,
2025, and mature January 1,2030. Interest is payable annually on January 1.
Click here to view factor tables.
(a)
Your answer is incorrect.
Determine the effective-interest rate. (Round present value factor to 5 decimal places, e.g.1.25124 and final answer to 0 decimal
places, e.g.18%.)
The effective-interest rate
%
Daniel Jackson Company sells 8% bonds having a maturity value of

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