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Buchanan Corporation issues $500,000 of 11% bonds that are due in 10 years and pay...

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Accounting

Buchanan Corporation issues $500,000 of 11% bonds that are due in 10 years and pay interest semi-annually. At the time of issue, the market rate for such bonds is 10%. Calculate the bonds' issue price by using the excel Present Value (PV) function/ financial calculator / PV tables. Round to the nearest dollar

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