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Dempsey Railroad Co. is about to issue $252,000 of 9-year bonds paying an 10% interest...

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Accounting

Dempsey Railroad Co. is about to issue $252,000 of 9-year bonds paying an 10% interest rate, with interest payable semiannually. The discount rate for such securities is 8%. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How much can Dempsey expect to receive for the sale of these bonds?

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