What is the present value of the second coupon payment

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Question - On January 1, Year 1, Weller Company issued a two year $1,000,000 bond. The annual coupon payments have a stated rate of 5% and the market rate is 6%. What is the present value (as of January 1, Year 1) of the second coupon payment? Round your answer to the nearest dollar.

Reference no: EM132600545

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