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Determine the issuance price of these bonds

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Question - On January 1, 20X3, Friday Corporation borrows $1,000,000 with payments made semi-annually in the amount of $25,000 and a rate of interest of 6%. The term of the bonds is 2 years and interest is paid semiannually, on June 30 and December 31. Determine the issuance price of these bonds when the loan is originally issued.

Reference no: EM132602632

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