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Cullumber Corp. issued $655,000 of 10-year, 5% bonds with interest payable semi-annually. How much did Cullumber receive from the sale of these bonds if the
Cullumber Corp. issued $655,000 of 10-year, 5% bonds with interest payable semi-annually. How much did Cullumber receive from the sale of these bonds if the market interest rate was (a) 4%, (b) 5%, and (c) 6%?
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