A company issues 8% bonds with a par value of $40,000 at par on January 1. The market rate on the date of issuance was 7%. The bonds pay interest semiannually on January 1 and July 1. The cash paid on July 1 to the bondholder(s) is: Multiple Choice $0. $1,600. $3,200. $2,800. $1,400. PrevQuestion 7 of 20 Total7 of 20Visit question mapScore answer