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If $638,000 of 9% bonds are issued at 97, what is the amount of cash received from the sale? Select the correct answer. $638,000 $618,860

If $638,000 of 9% bonds are issued at 97, what is the amount of cash received from the sale?

Select the correct answer.

$638,000

$618,860

$695,420

$580,580

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