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Calculating Costs of Issuing Debt Tennis Games, Inc., with the help of its investment bank recently issued $25.40 million of new debt. The offer price

Calculating Costs of Issuing Debt Tennis Games, Inc., with the help of its investment bank recently issued $25.40 million of new debt. The offer price (and face value) on the debt was $5,000 per bond and the underwriter's spread was 6 percent of the gross proceeds. What is the amount of capital funding Tennis Games, Inc. raised through this debt offering?

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