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Michael Jason Corporation issued a bond with a total par value of $10 000 on...

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Accounting

Michael Jason Corporation issued a bond with a total par value of $10 000 on 1 Jan 2020 with coupon interest rate of 10% p.a. which will be matured at 31 Dec 2030. The interest is payable quarterly. Calculate the issue price of bond at 1 Jan 2020 if the effective market interest rate is (a) 8% (b) 12%

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