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BC Brewery issues $50 million in straight bonds at an original issue discount of 1% and a coupon rate of 7.5%. The firm also pays

BC Brewery issues $50 million in straight bonds at an original issue discount of 1% and a coupon rate of 7.5%. The firm also pays underwriting fees of 3.5% on the face value of the bonds. What are the net proceeds to BC Brewery from the bond issue?

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