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Determine the present value of the bonds payable

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Problem - Present value of bonds payable; discount - Baliga Co. produces and sells high-quality audio equipment. To finance its operations, Baliga Co. issued $18,000,000 of five-year, 8% bonds with interest payable semiannually at a market (effective) interest rate of 10%. Determine the present value of the bonds payable.

Reference no: EM132879151

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