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Txtiles, an online clothing manufacturer, has $ 1 0 0 , 0 0 0 of 7 % bonds at 9 6 when the market rate

Txtiles, an online clothing manufacturer, has $100,000 of 7% bonds at 96 when the market rate is 8%, and they pay interest semiannually at 6/30 and 12/31. The bonds are dated January 1,2017, and they are issued on April 1,2017. How much cash will Txtiles collect at issuance of the bond?
a. $100,000
b. $96,000
c. $97,750
d. $101,750

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