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Dempsey railroad Co. is about to issue $400,000 of 10-year bonds paying 11% interest rate, with interest payable annually. The discount rate for such securities
Dempsey railroad Co. is about to issue $400,000 of 10-year bonds paying 11% interest rate, with interest payable annually. The discount rate for such securities is 12%
How much can Dempsey expect to receive from the sale or these bonds? (For calculation purposes, use 5 decimal places as displayed in the factor table provided, e.g. 5.25471. Round answer to 0 decimal places, e.g. 2,525.)
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