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Computing issue prices of bonds for three cases all of the

Question - Computing Issue Prices of Bonds for Three Cases

Berengar Industries is planning to issue $500,000 worth of bonds that mature in 10 years and pay 6 percent interest each June 30 and December 31. All of the bonds will be sold on January 1, 2014.

Required: Compute the issue (sale) price on January 1, 2014, for each of the following independent cases (show computations):

a. Case A: Market (yield) rate, 4 percent.

b. Case B: Market (yield) rate, 6 percent.

c. Case C: Market (yield) rate, 8 percent.

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Accounting Basics: Computing issue prices of bonds for three cases all of the

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