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Please explain 1C Note Valuation. The Hastings Company is a multinational manufacturer of electrical equipment and components. Selected financial information is as follows: Required 1.
Please explain 1C
Note Valuation. The Hastings Company is a multinational manufacturer of electrical equipment and components. Selected financial information is as follows: Required 1. The company reported that on February 1, 2020, it issued $910 million of 5.75\% secured notes due February 1, 2022. a. Were the notes sold at a discount, a premium, or at par value? b. How much interest expense did the company record on August 1, 2020, assuming semiannual compounding? : Note: Round to three decimal places. Use rounded amount in any further calculations. c. How much would the company have raised through the sale of the notes if the market rate of interest had been 6% per year? \& million. Note: Use Excel and round to three decimal places
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