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Barnes Corp. issues $5 million in bonds on January 1, 2021. The bonds have a stated interest rate of 4%, and mature in 6 years.

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Barnes Corp. issues $5 million in bonds on January 1, 2021. The bonds have a stated interest rate of 4%, and mature in 6 years. Interest is paid semiannually, starting on July 1, 2021. The market rate of interest for these bonds is 8% per year. How much will Barnes receive when it sells these bonds? Use semiannual compounding

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