Assume the same information as BEG-13 except that the discount rate is 12% instead of 10%. In this case, how much can Miley expect to receive from the sale of these bonds? In BEG-13, Miley Railroad Co. is about to issue $300,000 of 10-year bonds paying an 11% interest rate, with interest payable semiannually. The discount rate for such securities is 10%. How much can Miley expect to receive for the sale of these bonds?
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