Business, 20.02.2020 00:31 sunshine52577oyeor9

On January 1, a company issues 8%, 5-year, $300,000 bonds that pay interest semiannually. On the issue date, the annual market rate of interest is 6%. The following information is taken from present value tables:

Present value of an annuity for 10 periods at 3% 8.5302
Present value of an annuity for 10 periods at 4% 8.1109
Present value of 1 due in 10 periods at 3% 0.7441
Present value of 1 due in 10 periods at 4% 0.6756
What is the issue (selling) price of the bond?

$420,000
$402,362
$300,010
$308,107
$325,592

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On January 1, a company issues 8%, 5-year, $300,000 bonds that pay interest semiannually. On the iss...

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