Question
Myrtle Limited issued $1,600,000 of 6%, 10-year bonds at a discount on July 1. The bonds pay interest semiannually. Approximately how much cash did Myrtle
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Myrtle Limited issued $1,600,000 of 6%, 10-year bonds at a discount on July 1. The bonds pay interest semiannually. Approximately how much cash did Myrtle receive upon issuance assuming a market yield of 7%?
$1,600,000
$2,120,000
$1,486,000
$1,488,000
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Financial Management For Public, Health, And Not-for-Profit Organizations
Authors: Steven A. FinklerDaniel L. Smith, Thad D. Calabrese
6th Edition
978-1506396811, 150639681X
