Atom Endeavour Co. issued $21 million face amount of 4.0% bonds when market interest rates were 4.46% 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.)
Atom Endeavour Co. issued $21 million face amount of 4.0% bonds when market interest rates were 4.46% 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.)
Annual Interest payment+
b. Were the bonds issued at a premium or discount?
-- Premium
-- 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?
-- Interest expense will be less than the interest paid.
-- Interest expense will be more than the interest paid.
-- Interest expense will be equal to the interest paid.
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