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Smoke and Musk Inc issues bonds with the following information: Par Value $20,000 Term 8 years Contract Interest Rate 4% Issue Price 97.2 What is

Smoke and Musk Inc issues bonds with the following information:

Par Value $20,000
Term 8 years
Contract Interest Rate 4%
Issue Price 97.2

What is the semi-annual interest expense on this bond?

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