Required information Murry Corp. issued a five-year, $1,000, 8% (stated interest rate) bond on January...
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Required information Murry Corp. issued a five-year, $1,000, 8% (stated interest rate) bond on January 1, 2020 when the market rate of interest was 9%. The bond pays annual interest each December 31 Table 1: Future Value of $1 Table Ill: Future Value of an Annuity of $1 n 8% 9% n 8% 9% 5 1.469328 1.538624 5 5.866601 5.984711 Table It: Present Value of $1 n 8% 9% 5 0.680583 0.649931 Table IV: Present Value of an Annuity of $1 8% 9% 5 3.992710 3.889651 n 30 Calculate the present value of the cash flow of the five annual interest payments (round your answer to the nearest whole dollar), Numeric Response 1
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