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Pearson Co issue its $137,700 at a price of 96, the stated rate is 6%, the bond term is 4 years, and the market rate

Pearson Co issue its $137,700 at a price of 96, the stated rate is 6%, the bond term is 4 years, and the market rate is 8%. Assume the term of the bonds is 4 years.

The annual interest payment on the bond will be $_______

Selected Answer:	11,016
Correct Answer:	8,262 1

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