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Assume a company issued $600,000 of 3%, 6-year bonds with interest paid annually. The bonds were sold for $588,000 in the market. Which of the
Assume a company issued $600,000 of 3%, 6-year bonds with interest paid annually. The bonds were sold for $588,000 in the market. Which of the following is true regarding these bonds?
The bond was issued at a premium.
The company received $588,000 on the date of issuance.
The face value of the bonds is $588,000.
The market rate was less than the stated rate.
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