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On November 1, 2023, Yardley Distributors Inc. issued a $754,000, 6%, two-year bond. Interest is...

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Accounting

On November 1, 2023, Yardley Distributors Inc. issued a $754,000, 6%, two-year bond. Interest is to be paid semiannually each May 1 and November 1. (Use TABLE 14A.1 and TABLE 14A.2.). Note: Use table values for PV calculations. (Use appropriate factor(s) from the tables provided.)Required:a. Calculate the issue price of the bond assuming a market interest rate of 8% on the date of the bond issue. (Do not round intermediate calculations. Round the final answer to the nearest whole dollar. Enter all the amounts as positive values.)

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