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What amount will concord receive when it issues the bonds

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Reference no: EM132419497

Problem: Concord Inc. issues $2,193,500 of 10% bonds due in 12 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 11%.

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Question: What amount will Concord receive when it issues the bonds? Please explain your answer ASAP.

Reference no: EM132419497

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