Rivendale Enterprises issued a 3-year, $ 20 million face, 8% semiannual coupon bond when market interest rates were at 9%. What was the initial balance sheet liability and what percent-age of the cumulative interest expense occurred through year 1 Initial liability Year 1 interest expense()①A. $ 1948421331.84% ②B. $ 1948421333.05% ③C. $ 2000000033.05%
A. ①
B. ②
C. ③