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View Policies Current Attempt in Progress Bonita Inc, manufactures cycling equipment. Recently, the vice president...

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Accounting

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View Policies Current Attempt in Progress Bonita Inc, manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of a new plant to meet the increasing demand for the company's bikes. After a careful evaluation of the request, the board of directors has decided to raise funds for the new plant by issuing $3,205,500 of 10% term corporate bonds on March 1, 2020, due on March 1, 2035, with interest payable each March 1 and September 1, with the first interest payment on September 1st, 2020. At the time of issuance, the market interest rate for similar financial instruments is 8%. Click here to view factor tables As the controller of the company, determine the selling price of the bonds. (Round factor values to 5 decimal places, es. 1.25124 and final answer to decimal places, cs.458,581.) $ Selling price of the bonds e Textbook and Media Attempts: 0 of 3 used Submit Answer Save for Later

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