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Shriver Corp purchased ten $1,000 4% bonds of Eagle Corporation when the market rate of...

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Accounting

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Shriver Corp purchased ten $1,000 4% bonds of Eagle Corporation when the market rate of interest was 14%. Interest is paid semiannually, and the bonds will mature in five years Using the PV function in Excel, compute the price Shriver paid (the present value) for the bond investment. (Assume that all payments of interest and principal occur at the end of the period. Round your answer to the nearest cont.) Shriver paid $ on the bond investment

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