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Brivela & Co. issued bonds with the following terms: Principal =$1,000 Term =12 years Coupon rate =9% Market rate of interest =10% Payments of interest

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Brivela \& Co. issued bonds with the following terms: Principal =$1,000 Term =12 years Coupon rate =9% Market rate of interest =10% Payments of interest are made semi-annually What amount of proceeds did Brivela & Co. receive at bond issuance? Select one: a. 1,072.47 b. 1,230.49 c. 1,000.00 d. 931.01

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