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Illustration: Everm aster Corporation issued 100,000 of 8% term bonds on January 1, 2015, due on January 1, 2020, with interest payable each July 1

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Illustration: Everm aster Corporation issued 100,000 of 8% term bonds on January 1, 2015, due on January 1, 2020, with interest payable each July 1 and January 1, Investors require an effective-interest rate of 10%. Calculate the bond proceeds

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