Hopewell Drugstore plans to sell 50,000 bonds each with a face value of $1,000. If all of the bonds eventually sell for $975 each and the firm's investment banker receives a commission of 1.50% for every bond sold, what are the net proceeds to the firm from the sale of the bond issue?

43,415,250
$40,875,750
$41,500,000
$48,018,750

Answer rating: 100% (QA)

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