Company xyz enters into firm commitment underwriting, Financial Management

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Company xyz enters into firm commitment underwriting

Company XYZ enters into firm commitment underwriting agreement with Company ABC to issue 4200 of bonds with a 1,000 face value. Company ABC agrees to buy the bonds for $620 each and sells 84% of the issue in the market for $831 per bond. What are the proceeds of the issue for each company?

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Financial Management: Company xyz enters into firm commitment underwriting

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