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On October 1, 2020, Eastern Timber Inc. has available for issue $850,000 bonds due in four...

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Accounting

On October 1, 2020, Eastern Timber Inc. has available for issue$850,000 bonds due in four years. Interest at the rate of 5.00% isto be paid quarterly. Calculate the issue price if the marketinterest rate is: (Do not round intermediate calculations.Round the final answers to the nearest wholedollar.)

a) 6%

b) 5%

c) 4%

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