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Saturn issues 65 five-year bonds dated january 1 2011 with

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Saturn issues 6.5%, five-year bonds dated January 1, 2011, with a $500,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $510,666. The annual market rate is 6% on the issue date.

Compute the total bond interest expense over the bonds' life.

Reference no: EM13600807

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