Question: Jarl Company issued 8 8 year 1 000 000 par value bonds that
Jarl Company issued 8%, 8-year, $1,000,000 par value bonds that pay interest semiannually on October 1 and April 1. The bonds are dated April 1, 2014, and are issued on that date. The discount rate of interest for such bonds on April 1, 2014, is 10%. What cash proceeds did Jarl receive from issuance of the bonds?
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