Question: on july 3 1 , 2 0 2 4 , sheridan inc. issued $ 4 8 0 , 0 0 0 5 year, 4 %

on july 31,2024, sheridan inc. issued $480,0005 year, 4% bonds at 101. interest is payable semi-annually on july 31 and january 31. Sheridans fiscal year end is january 31.
is the market rate of interest higher of lower than 4%

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