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Determine the present value of the bonds payable

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Reference no: EM131784281

Problem

Moss Co. issued $42,000,000 of five-year, 11% bonds, with interest payable semiannually, at a market (effective) interest rate of 9%.

Determine the present value of the bonds payable using the present value tables in Exhibit 8 and Exhibit 10. Round to the nearest dollar.

Reference no: EM131784281

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