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On 1/1/15 Brock and Brandon Company issues a $25,000 bond with a term of 5...

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Accounting

On 1/1/15 Brock and Brandon Company issues a $25,000 bond with a term of 5 years and an annual stated rate of 6%. Interest is paid semi-annually every June 30 and December 31. The market rate of interest is 10%. What are the proceeds (i.e., the purchase price) of the bond? You may round to the nearest dollar.

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