Question: Marigold Corporation issues $ 4 6 0 , 0 0 0 of 9 % bonds , due in 9 years , with interest payable semiannually.

Marigold Corporation issues $
460
,
000
of
9
%
bonds, due in
9
years, with interest payable semiannually. At the time of issue, the market rate for bonds is
10
%
.
Compute the issue price of the bonds.

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