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Compute the total interest expense for Chen Company

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Question - Chen Company issues bonds with a par value of $800,000 on their issue date for $735,464. 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 Chen Company over the life of the bonds.

Reference no: EM132437830

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