Question: On January 1 , 2 0 2 1 , Coe Co , issued ten - year bonds with a face amount of $ 2 ,

On January 1,2021, Coe Co, issued ten-year bonds with a face amount of $2,000,000 and a stated interest rate of 5% payable seal-annually on January 1 and July 1. The market rate of comparable boods was 6%. Calculate the price of the bood. (5 points).

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