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WWL Corporation undertook a bond issue with the following details: Date of Issue: 1-1-2018 2028 Date of Maturity: 1-1- Face Value (par value)= $ 1,000,000
WWL Corporation undertook a bond issue with the following details: Date of Issue: 1-1-2018 2028 Date of Maturity: 1-1- Face Value (par value)= $ 1,000,000 (106% of par value) Issued @ 106 Stated (contractual) interest rate = 8%, to be paid semi- annually (on January 1 and July 1 of every year) Required: What is the total financing cost for this bond issue? (Note: write your answer as a number only, with No commas or signs). Answer: 40000
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