Ware Co. produces and sells motorcycle parts. On the first day
of its fiscal year, Ware issued $32,000,000 of five-year, 13% bonds
at a market (effective) interest rate of 10%, with interest payable
semiannually. This information has been collected in the Microsoft
Excel Online file. Open the spreadsheet, perform the required
analysis, and input your answers in the questions below.
Open spreadsheet
Compute the following:
The amount of cash proceeds from the sale of the bonds. Round
your answer to...