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Cullumber Company is about to issue $424,000 of 6-year bonds paying an 11% interest rate,...

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Accounting

Cullumber Company is about to issue $424,000 of 6-year bonds paying an 11% interest rate, with interest payable annually. The discount rate for such securities is 10%.

Click here to view the factor table.

(For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How much can Cullumber expect to receive for the sale of these bonds? (Round answer to 0 decimal places, e.g. 2,575.) Cullumber can expect to receive $enter a dollar amount to be recieved for the sale of bonds rounded to 0 decimal places

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