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ABC issues a 10 year $1,000 8% bond that pays interest semi-annually. At the time the bond was issued, the market rate for bonds of

ABC issues a 10 year $1,000 8% bond that pays interest semi-annually. At the time the bond was issued, the market rate for bonds of similar risk characteristics was 10%. What were the total proceeds from the issuance of the bond (choose the answer within $10).

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