If $2,000,000 of 10% bonds are issued at 97, the amount of cash received from the sale is a. $2,100,000 b. $1,940,000 c. $2,060,000 d. $2,000,000

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter12: Capital Structure
Section: Chapter Questions
Problem 1PROB
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If $2,000,000 of 10% bonds are issued at 97, the amount of cash received
from the sale is
a. $2,100,000
b. $1,940,000
c. $2,060,000
d. $2,000,000
Transcribed Image Text:If $2,000,000 of 10% bonds are issued at 97, the amount of cash received from the sale is a. $2,100,000 b. $1,940,000 c. $2,060,000 d. $2,000,000
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