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Bonds of current power corporation when the market rate of

Stockman Corp. purchased 10,$ 1,000, 4% bonds of Current Power Corporation when the market rate of interest was 12%. Interest is paid semiannually on the bonds, and the bonds will mature in eight years. Using the PV function in Excel Superscript ®, compute the price Stockman paid (the present value) on the bond investment.

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Accounting Basics: Bonds of current power corporation when the market rate of

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