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Sunland Railroad Co. is about to issue $298,000 of 7-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 7-year bonds paying an 12% interest rate, with interest payable annually. The discount rate for such securities is 8%. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How much can Sunland expect to receive for the sale of these bonds? (Round answer to 0 decimal places, e.g. 2,525.)
Sunland can expect to receive: |
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