Harris Co. issued $4,000,000 of 7% bonds on August 1, 2020 in order to raise...
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Accounting
Harris Co. issued $4,000,000 of 7% bonds on August 1, 2020 in order to raise capital for an investment opportunity. If the bonds were issued at a discount, which of the following could have been the market rate on the issuance date?
Select one:
a. 8%
b. 7%
c. 4%
d. 5%
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