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Liberty Mutual has issued 500 bonds with a Face Value of $1,000at an annual interest rate of 12%. Due to the market interest rateat the time of issue, Liberty Mutual is able to issue these bondsat a price of 104 ? per bond. How much did Liberty Mutual receivein cash when these bonds were issued

A. $500,000

B. $52,125

C. $521,250

D. $505,000

E. None of the above

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