Reynolds Co. issued $48 million face amount of 10.25% bonds when market interest rates were 9.75% for bonds of similar risk and other characteristics Required: a. How much interest will be paid annually on these bonds? (Enter your answer in dollars, not millions of dollars.) b. Were the bonds issued at a premium or discount? c. Will the annual interest expense on these bonds be more than, equal to, or less than the amount of interest paid each year? s 4,920.000 rrrrr Annual interest payment b Bonds issued c. Annual interest expense will be