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Motocar Co. produces and sells automobile parts. On the first day of its fiscal year, Motocar Co. issued $15,000,000\$15,000,000 of five-year, 15%15\% bonds at an effective interest rate of 13%13\%, with interest payable semiannually. Compute the following, presenting figures used in your computations.

\hspace{20pt} The amount of cash proceeds from the sale of the bonds. (Use the tables of present values. Round to the nearest dollar.)

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Answered 10 months ago
Answered 10 months ago
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In this exercise, we determine the amounts of cash proceeds from the sale of the bonds of Motocar Co.

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