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LaTanya Corporation is planning to issue bonds with a face valueof $101,000 and a coupon rate of 6 percent. The bonds mature inseven years. Interest is paid annually on December 31. All of thebonds will be sold on January 1 of this year. (FV of $1, PV of $1,FVA of $1, and PVA of $1) (Use the appropriate factor(s) from thetables provided. Round your final answer to whole dollars.)Required: Compute the issue (sale) price on January 1 of this yearfor each of the following independent cases: a. Case A: Marketinterest rate (annual): 6 percent. b. Case B: Market interest rate(annual): 4 percent c. Case C: Market interest rate (annual): 7percent.
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