Sunland Company is issuing long-term bonds to raise money for a planned acquisition. The face value of the bonds is $10610000. The stated interest rate is 10% payable semiannually for the 10-year term. The current market rate for similar bonds is 8%. 

What amount of proceeds is closest to the amount that Sunland will receive from this bond issue?

Answer rating: 100% (QA)

The amount that Sunland will receive from this bond issue is 99067227 Face value of the bonds 1... View the full answer