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Hoffman Technology issued $5,000,000 of 6% bonds on August 1, 2019 in order to raise...

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Question

Accounting

Hoffman Technology issued $5,000,000 of 6% bonds on August 1, 2019 in order to raise capital for an investment opportunity. If the bonds were issued at a discount, which of the following was the market rate on the issuance date?

Select one:

a. 2%

b. 7%

c. 4%

d. 5%

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