Question: If $ 4 , 0 0 0 , 0 0 0 of 1 2 % bonds are issued at 1 0 3 1 / 4

If $4,000,000 of 12% bonds are issued at 1031/4, the amount of cash received from the sale is _____.
Group of answer choices
$4,040,000
$4,130,000
$3,520,000
$4,000,000

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