Question
Reed Corp. sells $700,000 of bonds to private investors. The bonds are due in five years, have a 4% coupon rate and interest is paid
Reed Corp. sells $700,000 of bonds to private investors. The bonds are due in five years, have a 4% coupon rate and interest is paid semiannually. The bonds were sold to yield 6%. What proceeds does Reed receive from the investors?
a.$762,326
b.$641,027
c.$762,878
d.$640,289
e.None of these are correct.
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Financial Accounting
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
8th edition
978-1118953907, 9781118953808, 1118953908, 1118953800, 978-1119491057
