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A company issues 10%, 5-year bonds with a par value of $270,000 on January 1...

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Accounting

A company issues 10%, 5-year bonds with a par value of $270,000 on January 1 at a price of $280,682, when the market rate of interest was 9%. The bonds pay interest semiannually. The amount of each semiannual interest payment is:

  • $27,000.

  • $24,300.

  • $13,500.

  • $12,150.

  • $0.

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