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If $511,000 of 7% bonds are issued at 97, what is the amount of cash received from the sale? Select the correct answer. $495,670 $475,230

If $511,000 of 7% bonds are issued at 97, what is the amount of cash received from the sale?

Select the correct answer.

$495,670

$475,230

$546,770

$511,000

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