Hillard manufacturing sold an issue of bonds with a 10-year, Ask an Expert

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Hillard manufacturing sold an issue of bonds with a 10-year maturity, a $1000 par value, a 10% coupon rate, and semiannual interest payments. Two years after bonds were issued the going rate of interest on bonds fell to 6%. At what price would the bonds sell?

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Accounting Basics, Accounting

Category:- Accounting Basics
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