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Accounting for Bonds Sold at a Discount The Peoples Natonal Bank raised capital through the...

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Accounting for Bonds Sold at a Discount The Peoples Natonal Bank raised capital through the sale of 560 million face walue of four percent coupon rate, fenyear bonds. The bonds paid interest semiannually and Were sold at a time when equivalent risk-rated bonds carried a yield rate of sax percent. Round all answers to the nearest whole number. a. Calculate the proceeds that The Peoples National Bank received from the sale of the six percent bonds. b. Caloulate the interest expense on the bonds for the first year that the bonds are outstanding ci calculate the hogk value of the bonds at the end of the first yeare

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