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Dempsey Railroad Co. is about to issue $400,000 of 10-year bonds paying an 11% interest...

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Accounting

Dempsey Railroad Co. is about to issue $400,000 of 10-year bonds paying an 11% interest rate, with interest payable annually. The discount rate for such securities is 10%

How much can Dempsey expect to receive for the sale of these bonds?

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