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Question text Fly Corporation issued a $ 5,000,000, 8%, 6 years convertible bonds on 1/1/2020....

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Accounting

Question text
Fly Corporation issued a $ 5,000,000, 8%, 6 years convertible bonds on 1/1/2020. The bonds were issued at 103, and pay interest semiannually, on July 1, and January 1 of every year.
Required: Calculate the total financing (borrowing) cost for the company.
(Note: write your answer as a number only, with No dollar signs or commas)

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