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Whispering Inc. issues $4,200,000 of 7% bonds due in 12 years with interest payable at year-end....

Whispering Inc. issues $4,200,000 of 7% bonds due in 12 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 12%.

What amount will Whispering receive when it issues the bonds?

(For calculation purposes, use 5 decimal places as displayed in the factor table provided and final answer to 0 decimal places, e.g. 458,581.)

Amount received by Whispering when bonds were issued ——$

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