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All of the answer posted on websites are incorrect for this problem: Compute the issue price of each of the following bonds. Round your answers to...
All of the answer posted on websites are incorrect for this problem:
Compute the issue price of each of the following bonds. Round your answers to the nearest dollar.
b) 10,000,000 face value, serial bonds repayable in 40 equal semiannual installments of $500,000, which includes coupon payments and repayment of principal, for 20 years, priced on the market to yield 6% compounded annually.