Solved

If $5,000,000 in 7% Bonds Are Issued at 104 ½

Question 3

Multiple Choice

If $5,000,000 in 7% bonds are issued at 104 ½, how much cash is generated from the sale?


A) $1,040,000
B) $1,000,000
C) $5,000,000
D) $5,225,000
E) $3,500,000

Correct Answer:

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