What amount of cash would sawyer receive at issue

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Reference no: EM13134500

On January 1, 2002, Sawyer Company issued $100,000 of its 10 year bonds payable to generate cash for expansion. The bonds will retire in 10 years, and have a stated rate of 5 percent. Interest will be paid annually each December 31, starting December 31, 2002.

If Sawyer issued the bonds to yield an effective (market) rate of 4 percent, what amount of cash would Sawyer receive at issue (round to nearest whole dollar)?

Reference no: EM13134500

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