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Brown Co. issued $100 million of its 11% bonds on April 1,2021 at 90($90 million)...

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Accounting

Brown Co. issued $100 million of its 11% bonds on April 1,2021 at 90($90 million) plus accrued interest. The bonds are dated January 1,2021 and have an effective interest rate of 12%. Interest is payable semiannually on June 30 and December 31. What amount did Brown receive from the bond issuance?(Round your final answer to 2 decimal places.)$89.25 million.$92.25 million.$93.0 million.$92.75 million.

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