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If $1,000,000 of 8% Bonds Are Issued at 103 1/2

Question 181

Multiple Choice

If $1,000,000 of 8% bonds are issued at 103 1/2, the amount of cash received from the sale is

A) $1,080,000
B) $965,000
C) $1,000,000
D) $1,035,000

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