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A firm issues a $10 million bond with a 7% coupon rate, 4 year maturity, and annual interest payments when market interest rates are 6%

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A firm issues a $10 million bond with a 7% coupon rate, 4 year maturity, and annual interest payments when market interest rates are 6% The total interest expense reported by the issuer over the life of the bond will be: $2,453,489 $2,800,000 $2.400,000

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