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McLennan Corporation issued $ 6 6 0 , 0 0 0 of 6 % 1 0 - year bonds. The bonds are dated and sold

McLennan Corporation issued $660,000 of 6%10-year bonds. The bonds are dated and sold on January 1,201. Interest payment dates are January 1 and
July 1. The bonds are issued for $570,042 to yield the market interest rate of 8%.
Using the effective-interest method, what is the total cash payment for interest for each 12-month period? (All amounts rounded to the nearest dollar.)
A. $26,400
B. $39,600
C. $45,724
D. $52,800
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