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Business, 06.10.2019 01:00 mandy9386

On july 1, 2019, $7.0 million face amount of 8%, 12-year bonds were issued. the bonds pay interest on an annual basis on june 30 each year. the market interest rates were slightly higher than 8% when the bonds were sold. required: how much interest will be paid annually on these bonds? (enter your answer in whole dollar, not in millions) were the bonds issued at a premium or discount? will the annual interest expense on these bonds be more than, equal to, or less than the amount of interest paid each year?

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