Multiple Choice
Downing Company issues $4,000,000, 6%, 5-year bonds dated January 1, 2014 on January 1, 2014. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 5%. What are the proceeds from the bond issue?
A) $4,000,000
B) $4,173,195
C) $4,175,047
D) $4,173,847
Correct Answer:

Verified
Correct Answer:
Verified
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