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Cullumber Corp. issued $390,000 of 3-year, 7% bonds on May 1, 2021. The market interest rate when the bonds were issued was 8%. Interest is

Cullumber Corp. issued $390,000 of 3-year, 7% bonds on May 1, 2021. The market interest rate when the bonds were issued was 8%. Interest is payable quarterly. How much interest will be paid each period? Interest $

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