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Was the amount of cash received from the sale of the bonds

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A corporation issues $26,000,000 of 9% bonds to yield interest at the rate of 7%.

Problem (a) Was the amount of cash received from the sale of the bonds greater or less than $26,000,000?

Problem (b) Identify the following amounts as they relate to the bond issue: (1) face amount, (2) market or effective rate of interest, (3) contract rate of interest, and (4) maturity amount.

Reference no: EM132720247

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