On June 30, 2021, Julie Company issued 10-year bonds with a total face value of...
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Accounting
On June 30, 2021, Julie Company issued 10-year bonds with a total face value of $2,000,000. When the 6% coupon rate bonds were issued, the market rate was 10%. Assuming that Snowflake Co. pays interest every six months on December 31st and June 30th, what are the proceeds that Julie Company received on the issue date, June 30, 2021?
Select one:
a. $2,000,000.00
b. $2,271,806.53
c. $1,501,511.59
d. $2,772,173.49
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