Calculate the amount that the company will actually receive

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Reference no: EM13140550

Cronan, Inc., sells $ 1,000,000 general obligation bonds for 98. The interest rate on the bonds, paid quarterly, is 6 percent. Calculate ( a) the amount that the company will actually receive from the sale of the bonds, and ( b) the amount of both the quarterly and the total annual cash interest that the company will be required to pay.

Reference no: EM13140550

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