Market rate for the bond


A company issued 14%, 5 year bonds with a par value of $5,000,000 on January 1, 2012. Interest is to be paid semiannually on each June 30 and December 31. The bonds are issued at $5,368,035 cash when the market rate for this bond is 12%.

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Accounting Basics: Market rate for the bond
Reference No:- TGS051978

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