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A Company Paid $47,500 Plus a Broker's Fee of $400

Question 79

Multiple Choice

A company paid $47,500 plus a broker's fee of $400 to acquire 8% bonds with a $60,000 maturity value.The company intends to hold the bonds to maturity.The cash proceeds the company will receive upon maturity of the bonds is:


A) $60,000
B) $60,400
C) $47,900
D) $64,800
E) $52,300

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