124. Semiannual (Aa'a) and mature payment bonds (20 years) with a conditional return (not EAR) of 9% on the company's bonds. The treasurer of your business is thinking of selling quarterly payment bonds for approximately $1,000 per value. You were required to calculate in dollars how much the corporation will have to pay in quarterly interest to provide the same effective annual rate (EAR) as on a 20-year, semi-annual payout bond. What will be the dollar interest payment on a quarterly basis? a. $45.00 b. $25.00 c. $22.25 d. $27.50 e. $23.00

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