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How much cash will whitmore corp receive in total

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On January 1, 2019, Whitmore Corp Issues $600,000 of 9% 15 year bonds that pay interest annually on December 31st each year. Bonds of similar risk and maturity are paying 7%

Problem 1: How much cash will Whitmore Corp receive in total from the bond issuance?

Group of answer choices

Option 1: $503,272

Option 2: $658,742

Option 3: $709,297

Option 4: $600,000

Reference no: EM132704023

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