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Capri Inc issues $700,000 of 6% bonds that pay interest semiannually and mature in 10 years....

Capri Inc issues $700,000 of 6% bonds that pay interest semiannually and mature in 10 years. Compute the bond price assuming that the prevailing market rate of interest is 5% per year compounded semiannually. Is the bond sold at a discount or premium?

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