Ozzie Smith Co. issues $30,000,000 of 5-year, 6.6% bonds on April 1, 2020 at par plus accrued interest (in other words, the investors buy the bonds on April 1, 2020). The bonds are dated January 1, 2020. The bonds pay interest semiannually on June 30 and December 31 each year. How much cash does Ozzie Smith receive on April 1, 2020?

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Ozzie Smith Co. issues $30,000,000 of 5-year, 6.6% bonds on April 1, 2020 at par plus accrued interest (in other words, the investors buy the bonds on April 1, 2020). The bonds are dated January 1, 2020. The bonds pay interest semiannually on June 30 and December 31 each year. How much cash does Ozzie Smith receive on April 1, 2020? Please round your answer to the nearest dollar.

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