Ivanhoe Inc. issues $2,500,000 of 7% bonds due in 10 years with interest payable at...
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Ivanhoe Inc. issues $2,500,000 of 7% bonds due in 10 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 12%. Click here to view factor tables. What amount will Ivanhoe receive when it issues the bonds? (For calculation purposes, use 5 decimal places as displayed in the factor table provided and final answer to 0 decimal places, e.g. 458,581.) Amount received by Ivanhoe when bonds were issued $
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