Marin Enterprises issued 4%, 8-year, $2,000,000 par value bonds that pay interest semiannually on October 1 and April 1. The bonds are dated April 1, 2020, and are issued on that date. The discount rate of interest for such bonds on April 1, 2020, is 6%. Click here to view factor tables. What cash proceeds did Marin receive from issuance of the bonds? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to the nearest whole dollar, e.g. 5,275.) Cash proceeds $
Marin Enterprises issued 4%, 8-year, $2,000,000 par value bonds that pay interest semiannually on October 1 and April 1. The bonds are dated April 1, 2020, and are issued on that date. The discount rate of interest for such bonds on April 1, 2020, is 6%. Click here to view factor tables. What cash proceeds did Marin receive from issuance of the bonds? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to the nearest whole dollar, e.g. 5,275.) Cash proceeds $
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Transcribed Image Text:Marin Enterprises issued 4%, 8-year, $2,000,000 par value bonds that pay interest semiannually on October 1 and
April 1. The bonds are dated April 1, 2020, and are issued on that date. The discount rate of interest for such bonds on
April 1, 2020, is 6%.
Click here to view factor tables.
What cash proceeds did Marin receive from issuance of the bonds? (Round factor values to 5 decimal places, e.g.
1.25124 and final answer to the nearest whole dollar, e.g. 5,275.)
Cash proceeds
$
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