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Jackson Corporation's bonds have 12 years remaining to maturity. Interest is paid yearly, the bonds have a $1,000 par value, and the coupon interest rate is 10.5%. The bonds have a yield to maturity of 6%. What is the present market price of these bonds?
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Mr. Wong currently running a small manufacturing business. The Trial Balance of the business at 31 March 2011 is as follows:
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