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Practice Brief Exercise 6-5 Metlock, Inc. issues $7,600,000of10% bonds due in6years with interest payable at year-end. The current market rate of interest for bonds of

Practice Brief Exercise 6-5

Metlock, Inc. issues $7,600,000of10% bonds due in6years with interest payable at year-end.

The current market rate of interest for bonds of similar risk is12%.

What amount will Metlock receive when it issues the bonds?

Amount received by Metlock when bonds were issued ___________?

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