Use the information provided in the time value of money tables (Tables 9-1 through 9-4) in the text to answer the question that follows. Cosmic Company issued $1,000,000,8%,7 year bonds,interest payable semiannually.The market rate of interest was 6%.The issuance price of the bonds is
A) $1,111,560
B) $1,000,000
C) $1,151,480
D) $1,112,840
Correct Answer:
Verified
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