What is the total cash payment for interest

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McLennan Corporation issued $300,000 of 6.5?% 10?-year bonds.

The bonds are dated and sold on January? 1, 2015. Interest payment dates are January 1 and July 1.

The bonds are issued for $289,341 to yield the market interest rate of 7?%. McLennan Corporation uses the? effective-interest method.

What is the total cash payment for interest for each? 12-month period??

Reference no: EM132421045

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