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Use the Following Information for Questions 60 Through 62

question 126

Multiple Choice

Use the following information for questions 60 through 62:
On January 1, 2014, Ellison Co. issued eight-year bonds with a face value of $4,000,000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are: Use the following information for questions 60 through 62: On January 1, 2014, Ellison Co. issued eight-year bonds with a face value of $4,000,000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are:   -The present value of the interest is A)  $1,379,280. B)  $1,398,240. C)  $1,490,400. D)  $1,507,320.
-The present value of the interest is

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