Answer:
d.$1,031,610
Explanation:
Data provided in the question
Bond interest rate = 10%
Issued price = $102.75
Value of the bond = $1,004,000
So by considering the above information, the amount of cash received from the sale is
= Value of the bond × ( Issue price of bond ÷ Face Value of Bond)
= $1,004,000 × ($102.75 ÷ 100)
= $1,031,610
The bond interest rate is ignored in this question
