Pharoah Company issued $610,000 of 5 -year, 5% bonds at 95 on January 1, 2022. The bonds pay interest annually. Compute the total cost of borrowing for these bonds. Total cost of borrowing $ eTextbook and Media List of Accounts Attempts: 4 of 5 used (b2) Your answer is incorrect. Compute the total cost of borrowing for these bonds, assuming the bonds were issued at 104 . Total cost of borrowing $ eTextbook and Media List of Accounts Last saved 1 second ago. Attempts: 1 of 5 used