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Atom Endeavour Co. issued $12 million face amount of 10.4% bonds when market interest rates were 11.60% for bonds of similar risk and other characteristics.

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Atom Endeavour Co. issued $12 million face amount of 10.4% bonds when market interest rates were 11.60% for bonds of similar risk and other characteristics. Required: a. How much interest will be paid annually on these bonds? (Enter your answer in dollars, not millions of dollars, i.e. 1,234,567.) Annual interest payment

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