QUESTION 31 A company issued bonds with a face value of $2,000,000 and a maturity of 10 years from date of issue. The coupon rate for the bond is 4%, and the payments are made semiannually. If the bonds were sold at 96.5 at issuance, this indicates that total interest expense incurred during the life of the bond is: $870,000 $800,000 $730,000 cannot be determined from the information given