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Question
Morgan Company issues 9%, 20-year bonds with a par value of $750,000 that pay interest semi-annually. The current market rate is 8%. The amount of interest owed to the bondholders for each semiannual interest payment is.A.$ 60,000.
B.$ 33,750.
C.$ 67,500.
D.$ 30,000.
E.$ 375,000.
Answer
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