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Compute the amount that wine will realize

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Problem - On January 2, 2017, Wine Corporation wishes to issue $6,000,000 (par value) of its 10%, 10-year bonds. The bonds pay interest annually on January 1. The current yield rate on such bonds is 8%. Compute the amount that Wine will realize from the sale (issuance) of the bonds. Round your final answer to the nearest whole dollar.

Reference no: EM132963842

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