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Sunland Company is about to issue $306,100 of 10-year bonds paying an 9% interest rate,...

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Accounting

Sunland Company is about to issue $306,100 of 10-year bonds paying an 9% interest rate, with interest payable semiannually. The discount rate for such securities is 10%.

(For calculation purposes, use 5 decimal places as displayed in the factor table provided.) In this case, how much can Sunland expect to receive from the sale of these bonds? (Round answer to 0 decimal places, e.g. 2,575.)

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