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Sunland Equipment Inc. issued $77 million in 20-year bonds to finance the expansion of its school bus manufacturing operations in Winnipeg. The bonds pay 5%
Sunland Equipment Inc. issued $77 million in 20-year bonds to finance the expansion of its school bus manufacturing operations in Winnipeg. The bonds pay 5% interest semi-annually and were issued at 88.443 to yield 6%. (a1) Calculate the amount of cash Sunland received on issuance of the bonds. Cash received $ Step by Step Solution
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Auditing Text And Cases
Authors: W. Robert Knechel, Knechel
1st Edition
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