Music City paid $37,800 plus a broker's fee of $525 to acquire 8% Airport Corp bonds with a $40,000 maturity value. Music City intends to hold the bonds to maturity. The proceeds Music City receives at maturity will be:
A) $40,525.
B) $37,800.
C) $38,325.
D) $40,000.
E) $43,200.
Correct Answer:
Verified
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