The face value is $82,000, the stated rate is 10%, and the term of the bond is eight years. The bond pays interest semiannually. At the time of issue, the market rate is 8%. What is the present value of the bond at the issue date?





A) $91,561

B) $47,773

C) $43,673

D) $84,788




A) $91,561

Business

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