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10. Whipple Corp. just issued 275,000 bonds with a coupon rate of 5.99 percent paid semiannually...

10.

Whipple Corp. just issued 275,000 bonds with a coupon rate of 5.99 percent paid semiannually that mature in 20 years. The bonds have a YTM of 6.43 percent and have a par value of $2,000. How much money was raised from the sale of the bonds? (Round your intermediate calculations to two decimal places and final answer to the nearest whole dollar amount.)

Multiple Choice

  • $1,004.12 million

  • $550.00 million

  • $488.11 million

  • $522.98 million

  • $502.06 million

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Answer - 522.98 millions

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