Question: Beltran Enterprises issued 6 8 year 2 500 000 par value bonds that
Beltran Enterprises issued 6%, 8-year, $2,500,000 par value bonds that pay interest semiannually on October 1 and April 1. The bonds are dated April 1, 2015, and are issued on that date. The discount rate of interest for such bonds on April 1, 2015, is 8%. What cash proceeds did Beltran receive from issuance of the bonds?
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