Grouper Inc. issues $2,088,800 of 9% bonds due in 10 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 10%.
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What amount will Grouper receive when it issues the bonds? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)
Amount received by Grouper when bonds were issued