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Drew company is a retail company that specializes in

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Drew Company is a retail company that specializes in selling office supplies to law firms. On January 2, 2003, Drew Company issued $200,000 of 9% ten-year term bonds at an effective annual interest rate (yield) of 10%. The bonds pay interest semiannually on June 30 and December 31. Drew uses the effective interest method of amortization.Calculate the original issue price of the bond showing all your work.

Reference no: EM13603129

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