Discussion: Financial Reporting 10-K Report
Consider the 6.375% Senior Notes due 2026 and the 7.750% Senior Notes due 2027. Judging by the statement of cash flows, this debt was issued at face value (i.e., no discount or premium). What does this issuance at face value imply about the market rate of interest at the date of issuance? Why would the two different notes have different interest rates (Hint: consider the maturity date of the notes)? Use FASB codification to cite and support your answer.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.