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Alvin issues a $300,000 bond with a 5% coupon payment with a maturity of 20 years. The bond is issued at 97%, but callable after

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Alvin issues a $300,000 bond with a 5% coupon payment with a maturity of 20 years. The bond is issued at 97%, but callable after five years at 103. Assuming it is called after five years at 103, what is the total interest expense for the bond issue? a. $75,000. b. $90,750. C. $93,000 d. $309,000

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