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Sunland Railroad Co. is about to issue $298,000 of 10-year bonds paying an 12% interest rate, with interest payable annually. The discount rate for such

Sunland Railroad Co. is about to issue $298,000 of 10-year bonds paying an 12% interest rate, with interest payable annually. The discount rate for such securities is 8%. How much can sunland expect to receive for the sale of these bonds? ????Present value of bonds ????

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