Question: Blueprint Problem: Bonds - Issued at Premium Bonds When a company requires more cash than it currently has, it can acquire this cash very quickly

Blueprint Problem: Bonds - Issued at Premium

Bonds

When a company requires more cash than it currently has, it can acquire this cash very quickly through the issuance of a bond. When a bond is issued, it must first be authorized by the U. S. Securities and Exchange Commission (SEC). The terms of the bond are laid out in the bond indenture, and bondholders are given a bond certificate as proof of ownership over the debt.

If an individual bond is worth $7,000 and it is one of 1,000 bonds in its associated issuance, what is the bond issue? $ ________

I answered 7,000,000 and was marked wrong.

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