an I have an answer and solution for this one, please?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 13Q: A company issued bonds with a $100,000 face value, a 5-year term, a stated rate of 6%, and a market...
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7. A $10,000, 5% bond, with dividends payable June 1 and December
1, is redeemable at par on December 1, 1950. On May 23, 1925, it is
quoted at 89. Estimate the yield.
Transcribed Image Text:7. A $10,000, 5% bond, with dividends payable June 1 and December 1, is redeemable at par on December 1, 1950. On May 23, 1925, it is quoted at 89. Estimate the yield.
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