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Ultimate butter popcorn issues 5 7-year bonds with a face

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Ultimate Butter Popcorn issues 5%, 7-year bonds with a face amount of $55,000. The market interest rate for bonds of similar risk and maturity is 4%. Interest is paid semiannually. At what price will the bonds issue? (Do not round PV factors. Round your answer to the nearest dollar amount. Omit the "tiny_mce_markerquot; sign in your response.)

Reference no: EM13582541

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