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Pharoah Company is about to issue $320,000 of 10-year bonds paying an 9% interest rate, with interest payable annually. The discount rate for such securities

Pharoah Company is about to issue $320,000 of 10-year bonds paying an 9% interest rate, with interest payable annually. The discount rate for such securities is 10%.

In this case, how much can Pharoah expect to receive from the sale of these bonds?

Pharoah can expect to receive?

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