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Philips corporation issued 50000000 of its 10 bonds at par

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Philips Corporation issued $50,000,000 of its 10% bonds at par (at fact value of $100) on January 1, 20D. On December 31, 20D the bonds were trading on the bond exchange at 102½. Since the issue date, the market rate of interest on similar risk bonds has:
Answer

A. Increased.
B. Decreased.
C. Toys "R" Us paid suppliers thereby reducing accounts payable
D. Stayed the same.
E. None of the above is correct.

Reference no: EM13597682

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