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Calculate the bond current market value

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Question - The board of directors are planning to issue bonds in the amount of KD 14,000,000. The bonds will have an annual stated interest rate of 5% and the market rate will be 4%. The bonds will be issued for a period of 10 years, and the payments are expected to be at the end of each 6 month period. Calculate the bond's current market value AND prepare the necessary journal entry for the bond's issuance.

Reference no: EM133097386

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