Charleston Inc. issued $200,000 bonds with a stated rate of 10%. The bonds had a 10-year maturity

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Charleston Inc. issued $200,000 bonds with a stated rate of 10%. The bonds had a 10-year maturity date. Interest is to be paid semi-annually and the market rate of interest is 8%. If the bonds sold at 113.55, what amount was received upon issuance?

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