Answer:
amount of cash receive by sale = $1054725
Explanation:
given data
face value of the bond = $1,029,000
bond quote = 102 1/2
bond rate = 6 %
solution
we get here amount of cash receive by sale of the bond that is get here as
amount of cash receive by sale = face value of the bond × bond quote .............1
put here value and we get
amount of cash receive by sale = $1,029,000 × 102 1/2 %
amount of cash receive by sale = $1,029,000 × 102.5%
amount of cash receive by sale = $1054725
