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QUESTION
On January 1, 2008, Emilio Inc. issued a $500,000, 6%, 10-year bond, paying interest semi-annually to yield 8%. The issuance price was closest to:...
On January 1, 2008, Emilio Inc. issued a $500,000, 6%, 10-year bond, paying interestsemi-annually to yield 8%. The issuance price was closest to:a. $432,048b. $432,900c. $500,000d. $574,387Please answer with steped solutions since I have answer key.
