On January 1, Year 1, Fox Co, Inc, issues $100,000 par value, 10% bonds maturing in 10 years to yield 12% per year, compounded semiannually on January 1 and July 1 . Use the present value tables. Refer to the Fox Co, Inc example. How much are the initial issue proceeds to the nearest amount shown?
a. $32,197
b. $88,530
c. $100,000
d. $112,462
e. $102,462
B
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