Solved: A portion of the proceeds was used to call the 11 bonds, Finance Basics

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A portion of the proceeds was used to call the 11 bonds

Sunland, Inc. had outstanding $6,340,000 of 11% bonds (interest payable July 31 and January 31) due in 10 years. On July 1, it issued $8,570,000 of 10%, 15-year bonds (interest payable July 1 and January 1) at 98. A portion of the proceeds was used to call the 11% bonds (with unamortized discount of $190,200) at 103 on August 1.

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Finance Basics: A portion of the proceeds was used to call the 11 bonds

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Finance Basics: A portion of the proceeds was used to call the 11 bonds

Reference No:- TGS02274235

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