Question: A school district constructs a new elementary school at a cost of $ 2 4 million. It finances the project by issuing 3 0 -

A school district constructs a new elementary school at a cost of $24 million. It finances the project by issuing 30-year general obligation serial bonds, payable evenly over the outstanding term ($800,000 per year). District officials estimate that the school will have a useful life of 30 years (with no residual value).

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