Question: Please answer the following question and show your work. Thank you very much for your help. Squiggle Inc. issues $7,000 in principal of 5-year bonds

Please answer the following question and show your work. Thank you very much for your help.

Squiggle Inc. issues $7,000 in principal of 5-year bonds with semi-annual payments. The bond has a stated interest rate of 6% and the discount rate equals 9%. What is the issue price of the bond? Round to the nearest whole dollar. Type your

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