At the beginning of the recent period, there were 1,170 units of product in a department, 35% completed. These units were finished and an additional 5,900 units were started and completed during the period. 1,160 units were still in process at the end of the period, 25% completed. Using the weighted average method, the equivalent units produced by the department were:

The interest amount is $29600.

Explanation:

Below are the following given values:

The par value of bonds that Morgan  company issues = $740000

Interest paid = semi annually  

Current interest rate = 7%

Now we have to find the total amount of interest at 8% that is compounded semiannually.  

Below is the calculation of the interest amount.

Amount of interest for each semi-annual period: = face value × Coupon rate × 0.5

Here we multiply with 0.5 because interest is semi-annually.

Total interest = $740,000 × 8% × 0.5

Total interest = $29,600