Multiple Choice
When the market rate of interest was 11%, Munson Corporation issued $1,000,000, 12%, 8-year bonds that pay interest semiannually. The selling price of this bond issue was
A) $1,052,310
B) $1,154,387
C) $1,000,000
D) $ 720,495
Correct Answer:
Verified
Correct Answer:
Verified
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