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JKL Company will issue $2,000,000 in 12%, 10-year bonds when the market rate of interest...

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Question

Accounting

JKL Company will issue $2,000,000 in 12%, 10-year bonds when the market rate of interest is 10%. Interest is paid semiannually.

Required:

Determine how much cash JKL Company should realize from the bond issue.

Note: Use tables, Excel, or a financial calculator. Round your intermediate calculations to the nearest whole dollar. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)

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