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Determine the price of the bonds at January

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Question - Determine the price of bonds; issuance; effective interest

The Bradford Company issued 10% bonds, dated January 1, with a face amount of $80 million on January 1, 2021. The bonds mature on December 31, 2030 (10 years). For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31.

Required - Determine the price of the bonds at January 1, 2021.

Reference no: EM132855151

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