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Determine the cash received on issuance

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Reference no: EM133067458

Question - Morneau Automation Ltd. issued 6%, 10-year bonds with a face value of $100,000,000 at par on May 1, 2020. The bonds pay interest on October 31 and April 30 each year. The first interest payment was made on October 31, 2020. Morneau's year end is December 31. Determine the cash received on issuance and the yield for the 10-year bonds issued by Morneau Automation.

Reference no: EM133067458

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