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Snickett Corp. issued &4,000,000, 10yyear bonds on the first day of uts fiscal year. The bonds have a stated interest rate of 796 and an

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Snickett Corp. issued \&4,000,000, 10yyear bonds on the first day of uts fiscal year. The bonds have a stated interest rate of 796 and an effoctive (market) interest rate of 8.5% Interest payments are made semiannually. Compute the followng: a. The amount of cash proceeds from. the saie of the bonds. Round to the nearest dollar

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