On January 1, 2017, Kaizen Corporation issued a $900 million note that matures in 10...
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Accounting
On January 1, 2017, Kaizen Corporation issued a $900 million note that matures in 10 years. The note has a stated interest rate of 8 percent. When the note was issued, the market rate was 8 percent. The note pays interest twice per year, on June 30 and December 31. Use Table 9C.1, Table 9C.2. At what price was the note issued? (Round time value factor to 4 decimal places. Enter your answer in dollars not in millions and rounded to the nearest whole dollar.)
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