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On January 1, the Company issued $400,000 of 6%, 6-year bonds when the market rate...

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Accounting

On January 1, the Company issued $400,000 of 6%, 6-year bonds when the market rate of interest was 8%. The bonds pay interest semiannually on June 30 and December 31. How much are the proceeds that Ryan will receive from the bond issue date?

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