Response to the following questions:
1. The Can Sell Company issued $200 million of 8% coupon bonds that mature in 15 years. These bonds pay interest semiannually. Calculate the amount of the interest to be paid each period on these bonds.
2. The Quarter Company has $300 million of 10% coupon bonds outstanding. These bonds have interest paid each quarter; that is, every three months. What is the dollar amount of interest Quarter Company pays each quarter?