Question: on july 3 1 , 2 0 2 4 , wildhorse inc. issued $ 5 6 0 , 0 0 0 of 5 - year,

on july 31,2024, wildhorse inc. issued $560,000 of 5-year, 4% bonds at 104. Interest is payable semi-annually on july 31 and january 31. wildhorses fiscal year end is janaury 31.
is the market rate of interest higher or lower than 4%

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