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Pearson Co issue its $148,500 at a price of 102, the stated rate is 9%, the bond term is 4 years, and the market rate

Pearson Co issue its $148,500 at a price of 102, the stated rate is 9%, the bond term is 4 years, and the market rate is 5%.Assume the term of the bonds is 4 years.

The annual interest payment on the bond will be $_______

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