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Present Value of Bonds Payable; Premium Moss Co. issued \(\$ 780,000\) of five-year, \(13\%\) bonds,...

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Accounting

Present Value of Bonds Payable; Premium Moss Co. issued \(\$ 780,000\) of five-year, \(13\%\) bonds, with interest payable semiannually, at a market (effective) interest rate of \(11\%\) Determine the present value of the bonds payable, using the present value tables in Exhibit 5 and Exhibit 7. Round to the nearest dotlar.

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