Question: Sheridan Enterprises issued 7 % , 8 - year, $ 2 , 8 5 0 , 0 0 0 par value bonds that pay interest

Sheridan Enterprises issued 7%,8-year, $2,850,000 par value bonds that pay interest annually on April 1. The bonds are dated April 1,2025, and are issued on that date. The discount rate of interest for such bonds on April 1,2025, is 9%.

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