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39. Smith Company recently sold $100,000 of 8% semi-annual bonds at a time when the market rate of interest on such bonds was 6%. The

39. Smith Company recently sold $100,000 of 8% semi-annual bonds at a time when the market rate of interest on such bonds was 6%. The bonds mature in ten years. What were the proceeds of this sale? A. $114,908 B. $100,000 C. $299,712 D. $147,560 E. $60,640

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