Question: Moss Co . issued $ 2 3 0 , 0 0 0 of four - year, 1 1 % bonds, with interest payable semiannually, at

Moss Co. issued $230,000 of four-year, 11% bonds, with interest payable semiannually, at a market (effective) interest rate of 10%. Determine the present value of the bonds payable, and round to the nearest dollar.

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