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The Company is about to issue $2,000,000 of 5-year, 12% bonds. Interest will be paid semi-annually. The market interest rate for such securities is 10%.

The Company is about to issue $2,000,000 of 5-year, 12% bonds. Interest will be paid semi-annually. The market interest rate for such securities is 10%. How much can The Company expect to receive from the sale (issuance) of these bonds?

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