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Determine the present value of the bonds payable

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Question - Caps Co. produces and sells bottle capping equipment for soft drink and spring water bottlers. To finance its operations, Caps Co. issued $20,000,000 of five-year, 9% bonds with interest payable semiannually at an effective interest rate of 10%.

Determine the present value of the bonds payable.

Reference no: EM131773236

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