What is the total cash payment for interest

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McDaniels Corporation issued $500,000 of 6.0?% 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 $464,469 to yield the market interest rate of 7?%. McDaniels Corporation uses the? effective-interest method.

Question 1: What is the total cash payment for interest for each? 12-month period?? (All amounts are rounded to the nearest? dollar.)

A. $32,513

B. $27,868

C. $35,000

D. $30,000

Reference no: EM132611063

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