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QUESTION
Dell Co. issues bonds dated January 1, 2009, with a par value of $400,000. The bonds' annual contract rate is 13%, and interest is paid semiannually...
Dell Co. issues bonds dated January 1, 2009, with a par value of $400,000. The bonds' annual contract rate is 13%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 12%, and the bonds are sold for $409,834.
