Question: A company issues 9 % , 7 - year bonds with a par value of $ 2 6 0 , 0 0 0 on January

A company issues 9%,7-year bonds with a par value of $260,000 on January 1 at a price of $273,732, when the market rate of interest was 8%. The bonds pay interest semiannually. The amount of each semiannual interest payment is:
Multiple Choice
$20,800.
$11,700.
$23,400.
$0.
$10,400.
A company issues 9 % , 7 - year bonds with a par

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