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On April 1, 2006 a company issued $500,000, 9% bonds for $537,868 including accrued interest. Interest is payable annually on Jan 1, and bonds mature on Jan 1, 2016 On July 1, 2008 a company retired $150,000 of the bonds at 102 plus accrued interest. The company uses straight-line amortization....
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General Toys, Inc. sold five year bonds having a face value of $100,000 and a coupon rate of 7% when the market rate was 9%. The present value of $1 at 9% for five periods is $0.6499. The present value of a $1 annuity for 5 periods at 9% is $3.8897. At what price did these bonds sell? I came up...
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