What would the first interest payment

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Jarhead Corporation, on March 1, issued $2,500,000, 5-year, 13% bond at an effective interest rate of 11%, receiving proceeds cash of $2,688,440. Interest on the bonds is payable semiannually on March 1 and September 1. The fiscal year begins on March 1.

What would the first interest payment on September 1 be?

Reference no: EM13777627

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