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On December​ 31, 2016​, when the market interest rate is 10​%, ArnoldArnold Corporation issues $$280,000 of...

On December​ 31, 2016​, when the market interest rate is 10​%, ArnoldArnold Corporation issues $$280,000 of 9​%, 8​-year bonds payable. The bonds pay interest semiannually. Determine the present value of the bonds at issuance

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