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On February 1, 2020 Red Bull Company purchased 5-year bonds with face value of P2,000,000 and stated interest of 12% per year payable annually every

On February 1, 2020 Red Bull Company purchased 5-year bonds with face value of P2,000,000 and stated interest of 12% per year payable annually every January 1. The bonds were acquired to yield 10%. How much was the total amount paid to purchase the bonds?

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