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On January 1 , 2 0 2 0 , Taylor Inc issued a three - year bond with a $ 1 , 0 0 0

On January

1, 2020,

Taylor Inc issued a three

-

year bond with a $

1, 000, 000

face and a stated rate of

7 % .

The market rate is

6 % .

What is the year two coupon payment?

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