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Federal Bank has $500,000 of 7% debenture bonds outstanding. The bonds were issued at 103 in 2018 and mature in 2038. The bonds have

Federal Bank has $500,000 of 7% debenture bonds outstanding. The bonds were issued at 103 in 2018 and mature in 2038. The bonds have annual interest payments. Read the requirements. Requirement 1. How much cash did Federal Bank receive when it issued these bonds? Federal Bank received $ at bond issuance.

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