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  3. milan company issued bonds with a face value of $2

Milan Company issued bonds with a face value of $299,000 on January 1, Year 1....

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Milan Company issued bonds with a face value of $299,000 on January 1, Year 1. The bonds had a 8 percent stated rate of interest and a six-year term. The bonds were issued at face value. Interest is payable on an annual basis. Required a. What total amount of interest will Milan Company pay in Year 1 if bond interest is paid annually each December 31? b. What total amount of interest will Milan Company pay in Year 1 if bond interest is paid semiannually each June 30 and December 31? (Do not round intermediate calculations.) a. Total amount of interest b. Total amount of interest

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