Ivanhoe Equipment Inc. issued $$73$ million in $20-$year bonds to finance the expansion of its school bus manufacturing operations in

Winnipeg. The bonds pay $6\%$ interest semi$-$annually and were issued at $89\mathrm{.}322$ to yield $7\%.$

$($a$1)$

Calculate the amount of cash Ivanhoe received on issuance of the bonds.

Cash received $

eTextbook and Media

List of Accounts