Question: On 1/1/25, CPP Company issues $2,000,000 in 8%, 10 year bonds when the market rate of interest is 12%. Interest is paid annually at the

On 1/1/25, CPP Company issues $2,000,000 in 8%, 10 year bonds when the market rate of interest is 12%. Interest is paid annually at the end of each year. What will be the fair value of the bonds one year later (on 1/1/26) if interest rates have decreased to 10%? n pmt pv fv (do not put "%" in (do not put "years" (do not put "$" in (round up to a the answer) in the answer) the answer) whole number) O if ordinary annuity, 1 if annuity due

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