FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Mountain Excursions issues bonds due in 15 years with a stated interest rate of 11% and a face value of $180,000. Interest payments are made semi-annually. The market rate for this type of bond is 12%. Using a financial calculator or Excel, calculate the issue price of the bonds.
Multiple Choice
1. $193,835.
2. $167,612.
3. $180,000.
4. $100,313.
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