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How much did the bond sell for

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Reference no: EM132612747

On January 1, year 1, ABC. Corp. issued bonds as follows:Face value $6000000

Stated (or coupon) annual rate of interest 11 %

Coupon is paid twice annually.

Market annual rate of interest 10 %

Term in years 1

Problem 1: How much did the bond sell for? Round your answer to the nearest dollar.

Reference no: EM132612747

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