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Business, 24.10.2019 01:30 cutebab6723

Reynolds co. issued $72 million face amount of 10.75% bonds when market interest rates were 11.10% for bonds of similar risk and other characteristics.

required:
a.
how much interest will be paid annually on these bonds? (enter your answer in dollars, not millions of dollars, i. e. 1,234,567.)

b. were the bonds issued at a premium or discount?
c.
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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Reynolds co. issued $72 million face amount of 10.75% bonds when market interest rates were 11.10% f...
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