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A corporation issued bonds on January 1, 2018 with the following terms: Face Value: $500,000 Coupon Rate of Interest 8%, Term: 10 years Interest: Semi-annual

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A corporation issued bonds on January 1, 2018 with the following terms: Face Value: $500,000 Coupon Rate of Interest 8%, Term: 10 years Interest: Semi-annual payments on June 30 and December 31 Market Rate of Interest 10% What is the amount of cash interest payments made on this bond in 2018? A. $43,868 B. $40,000 C. $44,264 D. $20,000 E. $22,080

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