Question: Sealfons Inc. issues a bond with a stated interest rate of 10%, face value of $50,000, and due in 5 years. Interest payments are made

Sealfons Inc. issues a bond with a stated interest rate of 10%, face value of $50,000, and due in 5 years. Interest payments are made semi-annually. The market rate for this type of bond is 8%. What is the issue price of the bond (rounded to nearest whole dollar)

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