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Business, 07.04.2020 23:13 jkgtmhuip3503

On January 1, Applied Technologies Corporation (ATC) issued $570,000 in bonds that mature in 10 years. The bonds have a stated interest rate of 9 percent. When the bonds were issued, the market interest rate was 9 percent. The bonds pay interest once per year on December 31.

Required: Determine the price at which the bonds were issued and the amount that ATC received at issuance.

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