RECOMMENDED!!Serenity, Inc. is authorized to issue 9%

  

Serenity, Inc. is authorized to issue9 %, ?10-year bonds payable. On January? 1,2016?, when the market interest rate is 12?%, the company issues$500,000 of the bonds. The bonds pay interest semiannually.How much cash did the company receive upon issuance of the bonds? payable? (Round all numbers to the nearest whole? dollar.)Upon issuance of the bonds? payable,the company received ?$

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