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Allen Enterprises has just issued $3 million in bonds that mature in 10 years. The bonds have a face value of $1,000 and make semiannual

  1. Allen Enterprises has just issued $3 million in bonds that mature in 10 years. The bonds have a face value of $1,000 and make semiannual coupon payments. The bonds were sold at 110 percent of par value and the yield to maturity is 4.25 percent. What is the dollar amount of interest that will be paid per year on each of these bonds?

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