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Designer Limited issued $424,000 of 6%, 5-year bonds at par on July 1. The bonds pay interest semiannually. How much cash did Designer receive upon

Designer Limited issued $424,000 of 6%, 5-year bonds at par on July 1. The bonds pay interest semiannually. How much cash did Designer receive upon issuance?

$297,600

$424,000

$450,000

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