Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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![Sheffield Corporation issues $430,000 of 9% bonds, due in 10 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%.
Click here to view factor tables.
Compute the issue price 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., 58,971.)*
Issue price of the bonds: $ [Input Box]](https://content.bartleby.com/qna-images/question/faa93dee-b79b-447e-94b4-d19e3a94a632/b898c8e8-1432-4f11-8dcd-9b87d71e6465/udoj1vh_processed.png)
Transcribed Image Text:Sheffield Corporation issues $430,000 of 9% bonds, due in 10 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%.
Click here to view factor tables.
Compute the issue price 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., 58,971.)*
Issue price of the bonds: $ [Input Box]
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