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Hey Everyone.. i'm stuck on a homework problem....
On March 1 2009, Hannes Inc. issued $3million of 9% bonds at 102 plus accrued interest. The bonds are dated Jan 1 2009, and interest is paid semi-annually on Jan 1st and July 1st. Also, Hannes has incurred 27,000 of bond issuance costs.
I have to calculate the net amoun of cash recieved by Hannes as a result of the issuance of these bonds....
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