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  3. a bond issue with a face amount of $300,000 bears

A bond issue with a face amount of $300,000 bears interest at the rate of...

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Question

Accounting

A bond issue with a face amount of $300,000 bears interest at the rate of 8%. The current market rate of interest is 6%. These bonds will sell at a price that is:

Group of answer choices

Equal to $300,000.

Less than $300,000.

More than $300,000.

The answer cannot be determined from the information provided.

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