Question: On October 1, 2023, Eastern Timber Inc. has available for issue $720,000 bonds due in four years. Interest at the rate of 9.50% is

On October 1, 2023, Eastern Timber Inc. has available for issue $720,000

On October 1, 2023, Eastern Timber Inc. has available for issue $720,000 bonds due in four years. Interest at the rate of 9.50% 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.) Market Interest Rate a 10.5% Issue Price b. 9.5% c 85%

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