Question: Team Lid is authorized to issue $5,000,000 of 1%, 10-year bonds payable. On December 31, 2021, when the market interest rate is 5%, the company

Team Lid is authorized to issue $5,000,000 of 1%, 10-year bonds

Team Lid is authorized to issue $5,000,000 of 1%, 10-year bonds payable. On December 31, 2021, when the market interest rate is 5%, the company issues $4.000.000 of the bonds Team amortures bond decount using the effective-interest method. The semiannual interest dates are June 30 and December 31 Road the requirements Requirement 1, Use the PV function in Excel to calculate the issue price of the bonds. (Round your answer to the nearest whole dollar) The issue price of the bonds is

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