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On January 2017, BobCat Inc. issued $300,000 seven year bonds with 8% stated interest paid semiannually. Effective interest rate (=market interest rate for similar types

On January 2017, BobCat Inc. issued $300,000 seven year bonds with 8% stated interest paid semiannually. Effective interest rate (=market interest rate for similar types of bonds) was 7%. What is the semiannual payment amount?

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