Illustrate what was the issue price

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Reference no: EM13126928

Q. On January 1, 2011, Antonio Company issued $710,000 in bonds that mature in 7 years. The bonds have a stated interest rate of 6 percent and pay interest on June 30 and December 31 each year. When the bonds were sold, the market rate of interest was 12 percent. The company uses the straight-line amortization method.

Illustrate what was the issue price on January 1, 2011?

Reference no: EM13126928

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