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Appendix 1 EX 11-13 Present value of bonds payable; premium Moss Co. issued $42,000,000 of five-year, 11% bonds, with interest payable semiannually, at a market (effective) interest rate of 9%. Determine the present value of the bonds payable using the present value tables in Exhibits 5 and 7. (Round to the nearest dollar.)
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