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Exercise 15-15 |
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Your answer is correct. |
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Brislin Corporation is issuing
$226,900 of 8%, 5-year bonds when potential bond investors want a
return of 10%. Interest is payable semiannually.
Compute the market price (present value) of the bonds. (Round present value factor calculations to 5 decimal places,
e.g. 1.25124 and the final answer to 0 decimal places e.g. $12,520.)
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