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  3. on july 1, 2019, $10 million face amount of 8%, 12

On July 1, 2019, $10 million face amount of 8%, 12-year bonds were issued. The...

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Accounting

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On July 1, 2019, $10 million face amount of 8%, 12-year bonds were issued. The bonds pay interest on an annual basis on June 30 each year. The market interest rates were slightly higher than 8% when the bonds were sold. Required: a. How much interest will be paid annually on these bonds? (Enter your answer in whole dollar, not in millions) b. Were the bonds issued at a premium or discount? c. Will the annual interest expense on these bonds be more than, equal to, or less than the amount of interest paid each year? a Annual interest payment Bonds issued c. Annual interest expense will be

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