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A company received proceeds of $188,000 on 10-year, 6% bonds issued on January 1, 2021. The bonds had a face value of $200,000. What is

A company received proceeds of $188,000 on 10-year, 6% bonds issued on January 1, 2021. The bonds had a face value of $200,000. What is the amount of interest the company must pay the bondholders on December 31, 2021?

  1. $11,200
  2. $12,000
  3. $13,200
  4. $10,800

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