Saved Help Save & Exit 3 Dot Company issued $200,000 of bonds on January 1, 20X1 with interest payable each year. The bonds had a stated rate of 8% The bonds were set up as floating-rate debt with the rated pegged to LIBOR plus 3% Which of the following will be the interest expense for year 1 if LIBOR is 5% ? Multiple Choice 01:32 05 $18,000 $16,000 O $6,000 O $10,000 Mc < Prey 23 of 40 Next > Graw Hill