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Calculate the interest expense incurred by the mayfield corp

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Reference no: EM133153873

Question - During 2008, the Mayfield Corporation issued $800 million of zero-coupon debentures, due in 2018. The proceeds of the bond sale totaled approximately $442.94 million.

Assuming semi-annual compounding, estimate the effective interest rate per period on the zero-coupon debentures.

Calculate the interest expense incurred by the Mayfield Corporation during the first year that the debt was outstanding.

Reference no: EM133153873

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