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Tedman Industries is planning to issue $5 million in bonds. Based on a poll of potential investors, they have the highest chance of raising the

Tedman Industries is planning to issue $5 million in bonds. Based on a poll of potential investors, they have the highest chance of raising the funds they need with one of four sets of bond characteristics. Which option would cost them the LEAST amount in total interest over the life of the bond? five-year bond with 7.5% annual interest rate 10-year bond with 6.0% annual interest rate eight-year bond with 6.5% annual interest rate Osix-year bond with 7.0% annual interest rate
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