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Martinez Company issued $10,000,000 of 10-year, 9% bonds on March 1, 2021 at 97 plus accrued interest. The bonds are dated January 1, 2021 and

Martinez Company issued $10,000,000 of 10-year, 9% bonds on March 1, 2021 at 97 plus accrued interest. The bonds are dated January 1, 2021 and pay interest on June 30 and December 31. What is the total cash received on the issue date? Show calculation.

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