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DEF Company issue $2, 000, 000 in 10%, 10-year bonds when the market rate of interest is 12%. Interest is paid semiannually. Determine how much

DEF Company issue $2, 000, 000 in 10%, 10-year bonds when the market rate of interest is 12%. Interest is paid semiannually. Determine how much cash DEF Company should realize from the bond issue-i.e. what is the selling or issue price of the bonds

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