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Collins Corp. sells $400,000 of bonds to private investors. The bonds are due in five years, have an 4.1% coupon rate, and interest is paid
Collins Corp. sells $400,000 of bonds to private investors. The bonds are due in five years, have an 4.1% coupon rate, and interest is paid semiannually. The bonds were sold to yield 6%. What proceeds does Collins receive from the investors? A. $400,000 B. $367,555 C. $434,119 D. $388,000 E. None of the above
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