Business, 18.05.2021 19:20, danbat3023

Taylor Company issues bonds with a par value of $800,000 on their issue date at a market price of 91.9. The bonds mature in 5 years and pay 6% annual interest in semiannual payments. On the issue date, the market rate of interest (annual) is 8%. Compute the total interest expense for Taylor Company over the life of the bonds.

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Taylor Company issues bonds with a par value of $800,000 on their issue date at a market price of 91...