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Issue Price of a Bond May Enterprises issued $200,000 of six percent, five-year bonds with interest...

Issue Price of a Bond
May Enterprises issued $200,000 of six percent, five-year bonds with interest payable semiannually. Determine the issue price if the bonds are priced to yield (a) six percent, (b) ten percent, and (c) two percent.

Use financial calculator or Excel to calculate answers. Round answers to the nearest whole number.

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