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The bonds mature on january 1 2020 and pay interest

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On January 1, 2010, Crockrill Company purchased 320 of the $1,000 face value, 11%, 10-year bonds of Marion Inc. The bonds mature on January 1, 2020, and pay interest annually beginning January 1, 2011. Mr. Crockrill purchased the bonds to yield 12%. How much did Mr. Crockrill pay for the bonds?

Reference no: EM13566281

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