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Find the cash interest paid to the bondholders

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Question - Kaselitz Corp. issued a $100,000, 8%, 5-year bond on 1/1/21. Interest is paid each June 30 and December 31. The bond sold for $96,044 to yield 9%. The effective interest method is used. Find the cash interest paid to the bondholders in 2021?

a. $7,350

b. $8,000

c. $7,683

d. $9,000

e. $8,644

Reference no: EM132858149

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