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Homebodies needs 5819 million to finance firm expansion

Question - Homebodies needs $58.19 million to finance firm expansion. In discussions the bankers recommend a debt issue with an offer price of $1,000 per bond and will charge an underwriter's spread of 7.5 percent of the gross price.

Calculate the net proceeds to Homebodies from the sale of the debt.

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Accounting Basics: Homebodies needs 5819 million to finance firm expansion

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Accounting Basics: Homebodies needs 5819 million to finance firm expansion

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