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Marwick Corporation issues 10%, 5 year bonds with a par value of $1,110,000 and semiannual...

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Accounting

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Marwick Corporation issues 10%, 5 year bonds with a par value of $1,110,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8%. What is the bond's issue (selling) price, assuming the following Present Value factors: na i 5 Present Value of an Annuity 3.7908 7.7217 3.9927 8.1109 10% 5% 8% Present value of $1 0.6209 0.6139 0.6806 0.6756 10 5 10 4%

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