Alberto comapy issues 8 10-year semi-annual bonds with a

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Reference no: EM13591356

Alberto Comapy issues 8%, 10-year semi-annual bonds with a par value of $350,000. On the issue date, the annual market rate for these bonds is 10%, which implies a selling price of 87½. The straight-line method is used to allocate interest expense.

1.What are the issuer's cash proceeds from issuance of these bonds?

Reference no: EM13591356

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