Question: On October 1, 2020, Eastern Timber Inc. has available for issue $880,000 bonds due in four years. Interest at the rate of 8.00% is to

On October 1, 2020, Eastern Timber Inc. has available for issue

On October 1, 2020, Eastern Timber Inc. has available for issue $880,000 bonds due in four years. Interest at the rate of 8.00% is to be paid quarterly. Calculate the issue price if the market interest rate is: (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) Issue Price a. 9% b. 8% c. 7%

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