XYZ Corporation issued a $500,000 bond on January 1, 2022, with a coupon rate of 5% payable annually. The bond matures in 5 years. Calculate the total interest expense over the life of the bond.
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XYZ Corporation issued a $500,000 bond on January 1, 2022, with a coupon rate of 5% payable annually. The bond matures in 5 years. Calculate the total interest expense over the life of the bond.
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