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XYZ Company will issue $6,500,000 in 8%, 10-year bonds when the market rate of interest is 10%. Interest is paid semiannually. Determine how much cash

XYZ Company will issue $6,500,000 in 8%, 10-year bonds when the market rate of interest is 10%. Interest is paid semiannually.

Determine how much cash XYZ Company will realize from the bond issue.

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