Business, 18.02.2021 23:10 sylaspotter707
Lorien Company issued bonds with a coupon rate of 6% and a face amount of $1,000,000. The bonds mature in 100 years. The market interest rate for bonds with the same degree of riskiness is 5% compounded semi-annually. These bonds were issued on January 1 of Year 1. Coupon payments are made every six months on June 30 and on December 31, so the first coupon payment was made on June 30 of Year 1. Ryan uses the effective-interest method on its books. What was the issuance price of these bonds on January 1 of Year 1? $833,784 $1,000,000 $1,198,479 $1,198,567
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Lorien Company issued bonds with a coupon rate of 6% and a face amount of $1,000,000. The bonds matu...
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