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On the first day of the fiscal year, a company issues a $1,400,000, 8%, 6-year bond that pays semiannual interest of $56,000 ($1,400,000 x 8%

On the first day of the fiscal year, a company issues a $1,400,000, 8%, 6-year bond that pays semiannual interest of $56,000 ($1,400,000 x 8% x

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