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#2 On January 1, 2024 Lance Co. issued five-year bonds with a face value of $700,000 and a stated interest rate of 12% payable semiannually

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\#2 On January 1, 2024 Lance Co. issued five-year bonds with a face value of $700,000 and a stated interest rate of 12% payable semiannually on July 1 and January 1 . The bonds were sold to yield 10%. Calculate the cash proceeds from issuing the bonds

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