On January 1, 2015, East Lansing, Inc, issues $2,000,000 of 10 percent, 5-year bonds that pay interest of $100,000 semiannually. The market rate is 8 percent at the time of issuance. The issue price of the bonds is:a. $1,852.810 b. $1888,970 c. $1.999.970 d. $2,162.290
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On January 1, 2015, East Lansing, Inc, issues $2,000,000 of 10 percent, 5-year bonds that pay intere...
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