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Ocean Adventures issues bonds due in 10 years with a stated interest rate of 10%...

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Accounting

Ocean Adventures issues bonds due in 10 years with a stated interest rate of 10% and a face value of $470,000. Interest payments are made semi-annually. The market rate for this type of bond is 11%. Using a financial calculator or Excel, calculate the issue price of the bonds. Answer Choices: A. $441,917. B. $449,160. C. 303,921. D. $470,000. Please show work.

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