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Business, 29.03.2021 18:50 milkshakegrande101

Accounting for Notes Issues at a Premium The Longo Corporation issued $3 million maturity value of 8 percent coupon rate notes, with interest paid semiannually. At the time of the note issuance, equivalent risk-rated debt instruments carried a yield rate of 6 percent. The notes matured in 5 years. Calculate the proceeds that the Longo Corporation would receive from the sale of the notes. Round your answer to the nearest dollar.

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