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Eli corporation issued 200000 of 10-year bonds on 1st

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Eli Corporation issued $200,000 of 10-year bonds on 1st January. The bonds pay interest on 1st January and July 1 and have a stated rate of 10 percent. If the market rate of interest at time the bonds are sold is 8%, what will be the issuance price of the bonds?

Reference no: EM13370555

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