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When the Market Rate of Interest Was 12%, Halprin Corporation

Question 116

Multiple Choice

When the market rate of interest was 12%, Halprin Corporation issued $1,000,000, 11%, 10-year bonds that pay interest annually. The selling price of this bond issue was


A) $321,970
B) $1,000,000
C) $943,494
D) $621,524

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