Reed Corp. sells $500,000 of bonds to private investors. The bonds are due in five...
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Accounting
Reed Corp. sells $500,000 of bonds to private investors. The bonds are due in five years, have a 6% coupon rate, and interest is paid semiannually. The bonds were sold to yield 4%. What proceeds does Reed receive from the investors?
Select one:
a. $544,913
b. $544,518
c. $457,876
d. $457,349
e. None of these are correct.
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