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ABC Company issued 200 four-year bonds with a face value of $1,000 per bond. The bonds (combined) pay annual coupon payments of $6,000 at the
ABC Company issued 200 four-year bonds with a face value of $1,000 per bond. The bonds (combined) pay annual coupon payments of $6,000 at the end of each of four years. The market rate of interest is 5%. Which of the following is closest to the amount raised by the sale of the bonds?
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