S company issued $1,000,000, 20 years bonds on April 1st of 2015. The bond are dated 01/01/2015. The bonds pay 6% interest. The market rate on April…

S company issued $1,000,000, 20 years bonds on April 1st of 2015. The bond are dated 01/01/2015. The bonds pay 6% interest. The market rate on April 1st is 6%. How much will S company receive when the bonds are issued? Explain in detail.
 
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