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QUESTION
On January 1, Canglon, Inc., issues 10%, 5-year bonds with a face value of $150,000 when the effective rate is 12%. Interest is to be paid...
On January 1, Canglon, Inc., issues 10%, 5-year bonds with a face value of $150,000 when the effective rate is 12%. Interest is to be paid semiannually.
Prepare calculations to prove that the selling price of the bonds is $138,959.90. Use tables to help. Round your answers to two decimal places, if necessary.
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