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How the bonds were issued at a discount of

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Problem 1: Ray Corp. issued bonds with a face amount of ?200,000. Each ?1,000 bond contained detachable stock warrants for 100 shares of Ray's common stock. Total proceeds from the issue amounted to ?240,000. The fair value of each warrant was ?2, and the fair value of the bonds without the warrants was ?196,000. The bonds were issued at a discount of?

Reference no: EM132956499

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