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Sunland Company is about to issue $450,000 of 10-year bonds paying an 11% interest rate,...

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Accounting

Sunland Company is about to issue $450,000 of 10-year bonds paying an 11% interest rate, with interest payable annually. The discount rate for such securities is 13%. Click here to view the factor table. (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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