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Sage Inc. issues $2,300,000 of 7% bonds due in 10 years with interest payable at year end. The current market rate of interest for bonds

Sage Inc. issues $2,300,000 of 7% bonds due in 10 years with interest payable at year end. The current market rate of interest for bonds of similiar risk is 9%. What amount will Sage recieve when it issues the bonds?

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