Marwick Corporation issues 31%, 5 year bonds with a par value of $1,230,000 and semiannual...
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Marwick Corporation issues 31%, 5 year bonds with a par value of $1,230,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 29%. What is the bond's issue (selling) price, assuming the Present Value of $1 factor for 14.5% and 10 semi-annual periods is 0.2582 and the Present Value of an Annuity factor for the same rate and period is 5.1159?
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