Question: On January 1 , 2 0 2 4 , Tropical World issues $ 4 0 . 5 million of 7 % bonds, due in 1

On January

1, 2024,

Tropical World issues $

40.5

million of

7 %

bonds, due in

10

years, with interest payable semiannually on June

30

and December

31

each year. The proceeds will be used to build a new ride that combines a roller coaster, a water ride, a dark tunnel, and the great smell of outdoor barbeque, all in one ride.

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