Massers Company is issuing long-term bonds to raise money for a planned acquisition. The face...

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Accounting

Massers Company is issuing long-term bonds to raise money for a planned acquisition. The face value of the bonds is $10,000,000. The stated interest rate is 8% payable semiannually for the 10-year term. The current market rate for similar bonds is 10%. What amount of proceeds will Massers receive from this bond issue? If needed, you can access the interest tables here.
$10,000,000
$8,753,779
$11,359,065
$11,951,190
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