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Crane Organics Ltd. Has a number of commercial greenhouse operations in British Columbias Fraser Valley....

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Accounting

Crane Organics Ltd. Has a number of commercial greenhouse operations in British Columbias Fraser Valley. To finance the additional real estate and greenhouses necessary to meet the increasing demand for the companys products, the company decided to issue bonds. On January 1, it issued five-year, semi-annual bonds with a face value of $82,000,000. The contract rate on the bonds was 4.5% and the bonds were issued at 97.8 to yield 5.0%. Interest payments are to be made each June 30 and December 31.
A) Determine the proceeds on insurance of the bonds
Proceeds on insurance of the bonds $_______________

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