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Given the following ABC Inc. bond information: $1000 par value, maturity 2023 Dec 22 semi-annual coupon 7.75%, price 105.50 and yield 7.4%. How much interest

Given the following ABC Inc. bond information: $1000 par value, maturity 2023 Dec 22 semi-annual coupon 7.75%, price 105.50 and yield 7.4%. How much interest does it pay annually?

Select one:

a. $77.50

b. $7.40

c. $74.00

d. $7.50

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