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Best Texas Steaks, Inc. issued $30 million face amount of 9% bonds when market interest rates were 9.30% for bonds of similar risk and other

Best Texas Steaks, Inc. issued $30 million face amount of 9% bonds when market interest rates were 9.30% for bonds of similar risk and other characteristics. How much interest will be paid annually on these bonds?

A. $2,700,000.

B. $2,790,000.

C. $2,070,000.

D. None of the above.

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