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Ella company sold a $5,000,000 30 year bond on 1/1/20. The bond's coupon rate is 8% and it pays interest semi-annually on 6/30 and 12/31.

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Ella company sold a $5,000,000 30 year bond on 1/1/20. The bond's coupon rate is 8% and it pays interest semi-annually on 6/30 and 12/31. The market rate of interest for such a bond on 1/1/20 is 3%. How much did Ella receive for the bond? [answer1]. Use the $XXX,XXX format and round the answer to the nearest $

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