On December 31, Sleepy Corporation issued $2,400,000, 10%, 18-year bonds when the market rate of...
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Accounting
On December 31, Sleepy Corporation issued $2,400,000, 10%, 18-year bonds when the market rate of interest was 8%. The bonds pay interest semi-annually each June 30 and December 31. Using present value techniques, compute the price of the bonds.
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