Question: XYZ Manufacturing issues 2-year 5% bonds with a face value of $100,000 on 12/1/21. Interest is payable on November 30. The market rate is 6%.

XYZ Manufacturing issues 2-year 5% bonds with a face value of $100,000 on 12/1/21. Interest is payable on November 30. The market rate is 6%. Calculate the issue price of the bond. You must include the calculation in order to receive credit.

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