Business, 08.03.2021 20:00 JAlvelo

On January 1,2016, the Ruffin Corporation issued $40,000 par value, 4%, four-year bonds that mature on December 31, 2019. Ruffin will pay interest quarterly on March 31, June 30, September 30, and December 31. The company's fiscal year ends on December 31. What is the issue price of this bond assuming the market rate of interest is 4%?

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On January 1,2016, the Ruffin Corporation issued $40,000 par value, 4%, four-year bonds that mature...

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