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Morgan Company issues 9% , 20-year bonds with a par value of $780,000 that pay interest semi-annually. The current market rate is 8% . The

Morgan Company issues 9\% , 20-year bonds with a par value of $780,000 that pay interest semi-annually. The current market rate is 8\% . The amount of interest owed to the bondholders for each semiannual interest payment is:

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