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Find the cost of this long-term investment in bonds

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Question - Grayson Company purchased $400,000 bonds at 101. Accrued interest for three months was $10,000, and brokerage fees were $2,000. Find the cost of this long-term investment in bonds?

a. $416,000

b. $414,000

c. $410,000

d. $400,000

e. $406,000

Reference no: EM132598150

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