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Whipple Corp. just issued 225,000 bonds with a coupon rate of 5.87 percent paid semiannually that mature in 20 years. The bonds have a YTM

Whipple Corp. just issued 225,000 bonds with a coupon rate of 5.87 percent paid semiannually that mature in 20 years. The bonds have a YTM of 6.31 percent and have a par value of $2,000. How much money was raised from the sale of the bonds?

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