Question: Legacy issues $ 5 7 0 , 0 0 0 of 8 . 5 % , four - year bonds dated January 1 , 2

Legacy issues $570,000 of 8.5%, four-year bonds dated January 1,2021, that pay interest semiannually on June 30 and December 31. They are issued at $508,050 when the market rate is 12%.

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