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Required Compute the cash proceeds from bond issues under the following terms. For each case, indicate whether the bonds sold at a premium or discount.
Required Compute the cash proceeds from bond issues under the following terms. For each case, indicate whether the bonds sold at a premium or discount. (Do not round intermediate calculations. Round your answers to nearest dollar amount.)
Cash Proceeds | Discount or Premium | ||
a | Pear Inc issued $165,000 of 10 year, 8 percent bonds at 102 | ||
b | Apple Inc issued $105,000 of five-year, 12 percent bonds at 99 | ||
c | Cherry Co issued $133,000 of five-year, 6 percent bonds at 102 1/4 | ||
d | Grape issued $25,000 of four-year, 8 percent bonds at 97 |
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