On March 1, 2019, Company B issued $1,000,000, 10 years, 12% bonds at 103 excluding accrued interest. The bonds are dated January 1, 2019 and will mature on January 1, 2029. The interest is payable semi-annually on January 1 and July 1 of each year. Company B paid transaction costs amounting to $50,000. How much would be the net cash receipts of Company B as a result of the bond issuance?

$1,000,000

$1,030,000

$980,000

$1,050,000

Answer rating: 100% (QA)

Solution The correct option is Interest paid on lon... View the full answer