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Cullumber Company is about to issue $424000 of 6-year bonds paying an 11% interest rate, with interest payable annually. The discount rate for such securities

Cullumber Company is about to issue $424000 of 6-year bonds paying an 11% interest rate, with interest payable annually. The discount rate for such securities is 10%. How much can Cullumber expect to receive for the sale of these bonds

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