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QUESTION
Corporation sold $100,000,000 face value 6% bonds. The bonds mature in 20 years and pay interest semiannually. The going market rate of interest on...
Corporation sold $100,000,000 face value 6% bonds. The bonds mature in 20 years and pay interest semiannually. The going market rate of interest on bonds of similar risk is 8%. How much will Corporation receive upon the sale of the bonds?
