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Fomento Company received proceeds of $534,500 on 10-year, 6% bonds issued on January 1, 2016. The bonds had a total face value of $500,000 and

Fomento Company received proceeds of $534,500 on 10-year, 6% bonds issued on January 1, 2016. The bonds had a total face value of $500,000 and pay interest semi-annually on June 30 and December 31st. What is the amount of cash interest Fomento must pay the bondholders in 2016? a. $16,035 b. $32,070 c. $30,000 d. $15,000

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