I need Help!!!
Clancey Inc. issues $2,100,300 of 7% bonds due in 14 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 11%. What amount will Clancey receive when it issues the bonds?

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please help

So the discount is 7/11 = 0.6363 and the answer is 2,100,300 x 7/11 = 1336554.54

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