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Coronado Company issues $26000000, 5%, 5-year bonds dated January 1, 2017 on January 1, 2017. The...

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Question

Accounting

Coronado Company issues $26000000, 5%, 5-year bonds datedJanuary 1, 2017 on January 1, 2017. The bonds pay interestsemiannually on June 30 and December 31. The bonds are issued toyield 4%. What are the proceeds from the bond issue?

Answers given:

$27156209

$26000000

$27167784

$27160279

Answer & Explanation Solved by verified expert
3.8 Ratings (408 Votes)
Correct answer2716778 Working The calculation i made are little diffrent due to round off but the answer stated above is correct Bonds issue price is calculated by ADDING the    See Answer
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