Multiple Choice
Howard Company is about to issue $2,000,000 of 5-year bonds, with a stated rate of interest of 10%, payable semiannually. The market rate for such securities is 12%. How much can Howard expect to receive for the sale of these bonds?
A) $1,852,789.
B) $2,000,000.
C) $2,162,220.
D) None of these answer choices are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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