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Clancey Inc. issues $2,013,700 of 7% bonds due in 11 years with interest payable at year-end. The current market rate of interest for bonds of
Clancey Inc. issues $2,013,700 of 7% bonds due in 11 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 9%. (Use the tables below.)
What amount will Clancey receive when it issues the bonds?
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