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Wolfpack Enterprises plans to issue $1,000,000, 5-year, bonds payable with a stated interest rate of 12%. The bonds pay interest semi-annually and the market rate
Wolfpack Enterprises plans to issue $1,000,000, 5-year, bonds payable with a stated interest rate of 12%. The bonds pay interest semi-annually and the market rate is 10%. What amount of money can Wolfpack Enterprises expect to receive when they sell their bonds?
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