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Darga Company issues bonds with a par value of $1,800,000 on their issue date. The bonds mature in 5 years and pay 6% annual interest in semiannual payments. On the issue date, the market rate of interest (annual) is 8%. Compute the price of the bonds on their issue date.
A. $1,685,148
B. $2,660,447
C. $1,547,345
D. $1,654,004

Sagot :

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