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Wellington Corporation issues $3,500,000 of 5% bonds at 98. What is the amount of cash Wellington would receive from the sale? a. $3,430,000 b. $3,500,000 c. $3,570,000 d. $3,675,000 e. None of the above

Wellington Corporation issues $3,500,000 of 5% bonds at 98. What is the amount of cash Wellington would receive from the sale? a. $3,430,000 b. $3,500,000 c. $3,570,000 d. $3,675,000 e. None of the above

EBK CFIN
EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter3: The Financial Environment: Markets, Institutions And Investment Banking
Section: Chapter Questions
Problem 19PROB
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Wellington Corporation issues $3,500,000 of 5% bonds at 98. What is the amount of cash Wellington would receive from the sale? a. $3,430,000 b. $3,500,000 c. $3,570,000 d. $3,675,000 e. None of the above
Transcribed Image Text:Wellington Corporation issues $3,500,000 of 5% bonds at 98. What is the amount of cash Wellington would receive from the sale? a. $3,430,000 b. $3,500,000 c. $3,570,000 d. $3,675,000 e. None of the above
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