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(Solved): HELP ASAP Wayne Enterprises issued ten-year, 6% bonds with a total face value of $1,750,000. The bon ...
HELP ASAP Wayne Enterprises issued ten-year,
6%bonds with a total face value of
$1,750,000. The bonds make a cash interest payment each year on December 31. The proceeds of the issuance will be used to invest in state-ofthe-art freezers in all stores. At the time of the issuance, the market rate was 7%. What is Wayne's total interest expense over the life of the bonds?
$1,627,087.32
$1,050,000.00
$1,096,198.48
$1,172,912.68