Question: On December 3 1 , 2 0 2 4 , when the market interest rate is 1 4 % , Willis Realty issues $ 8

On December 31,2024, when the market interest rate is 14%, Willis Realty issues $800,000 of 11.25%,10-year bonds payable. The bonds pay interest semiannually. Determine the present value of the bonds at issuance.

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