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Determine the present value of the bonds payable

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Reference no: EM132754153

Problem - Pinder Co. produces and sells high-quality video equipment. To finance its operations, Pinder issued $25,000,000 of five-year, 7% bonds, with interest payable semiannually, at a market (effective) interest rate of 9%. Determine the present value of the bonds payable.

Reference no: EM132754153

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