Sean Corp. issued a $40,000, 10-year bond, with a stated rate of 8 percent, paid semiannually. How
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Sean Corp. issued a $40,000, 10-year bond, with a stated rate of 8 percent, paid semiannually. How much cash will the bond investors receive at the end of the first interest period?
a. $800
b. $1,600
c. $3,200
d. $4,000
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