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Calculate the issue price of the bonds

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Reference no: EM132241035

Question - On January 1, 2017 Lance Co. issued five-year bonds with a face value of $810,000 and a stated interest rate of 14% payable semiannually on July 1 and January 1. The bonds were sold to yield 6%.

Calculate the issue price of the bonds.

Reference no: EM132241035

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