Question: A company issues 6 % , 7 - year bonds with a par value of $ 2 8 0 , 0 0 0 on January

A company issues 6%,7-year bonds with a par value of $280,000 on January 1 at a price of $296,367, when the market rate of interest was 5%. The bonds pay interest semiannually. The amount of each semiannual interest payment is:
Multiple Choice
$16,800.
$14,000.
$7,000.
$8,400.
$0.

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