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5 On December 1, 2019, Spearmint, Inc., issued $450,000 of 9 percent, 3-year bonds for cash of $461,795. The bonds pay interest semiannually. The total

5 On December 1, 2019, Spearmint, Inc., issued $450,000 of 9 percent, 3-year bonds for cash of $461,795. The bonds pay interest semiannually. The total cost of borrowing equals O $109,705 O $121,500 O $450,000 O $461,795

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