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Question(s) / Instruction(s):

A company issues 9%, 20-year bonds with a par value of $750,000. The current market rate is 8%. The amount of interest owed to the bondholders for each semiannual interest payment is:

a)            $375,000.

b)            $60,000.

c)            $30,000.

d)            $67,500.

e)            $33,750.

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