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If $4,000,000 of 12% Bonds Are Issued at 103 1/4

Question 71

Multiple Choice

If $4,000,000 of 12% bonds are issued at 103 1/4, the amount of cash received from the sale is:

A) $4,040,000.
B) $4,000,000.
C) $4,130,000.
D) $3,520,000.

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