Calculate the issue price of the bonds

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Question

Could you please assist with the following:

(1) Increase in inventory is reported in the investing section of the indirect method statement of cash flows. True or False?

(2) Triton Company issued 4%, 20-year bonds with a face amount of $60 million. The market yield for bonds of similar risk and maturity is 6%. Interest is paid semiannually. Calculate the issue price of the bonds. (Round to nearest dollar and show all work).

Reference no: EM132344955

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