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Business, 15.07.2020 02:01 uchapman6286

Kaye Co. issued $7 million face amount of 5%, 10-year bonds on April 1, 2013. The bonds pay interest on an annual basis on March 31 each year. Required: a. Assume that market interest rates were slightly lower than 5% when the bonds were sold. Would the proceeds from the bond issue have been more than, less than, or equal to the face amount?

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Kaye Co. issued $7 million face amount of 5%, 10-year bonds on April 1, 2013. The bonds pay interest...
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