Question: Errol Enterprises issues 10-year, 10% bonds with a face amount of $200,000. The market rate for bonds of similar risk and maturity is $7%. Interest

Errol Enterprises issues 10-year, 10% bonds with a face amount of

Errol Enterprises issues 10-year, 10% bonds with a face amount of $200,000. The market rate for bonds of similar risk and maturity is $7%. Interest is paid semiannually. What is the issue price of the bonds? Bond Issue Price

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