Question: Pretzelmania, Incorporated, issues 7 % , 1 5 - year bonds with a face amount of $ 5 1 , 0 0 0 for $

Pretzelmania, Incorporated, issues 7%,15-year bonds with a face amount of $51,000 for $55,998 on January 1,2024. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid semiannually on June 30 and December 31.

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