Sarasota Corporation issues $530,000 of 14% bonds that are due in 8 years and pays interest semi-annually.
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Sarasota Corporation issues $530,000 of 14% bonds that are due in 8 years and pays interest semi-annually.
At the time of issue, the market rate for such bonds is 12%.
What is the issue price of the bond?
Related Book For
Intermediate Accounting Volume 2
ISBN: 9781119497042
12th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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