(The following information applies to the questions displayed below.) On January 1, Year 1, a company...
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(The following information applies to the questions displayed below.) On January 1, Year 1, a company issues $39.1 million of 9% bonds, due in 20 years, with interest payable semlannually on June 30 and December 31 each year. The proceeds will be used to build a:new ride that combines a roller coaster, a water ride, a dark tunnel, and the great smell of outdoor barbeque, all in one ride. Exercise 9-18B Part 3 3-a. If the market rate is 10%, calculate the issue price. (EV of $1. PV of $1. EVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Enter your answers in dollars not in millions. Round "Market interest rate" to 1 decimal place. Round your final answers to the nearest whole dollar.) Bond Characteristics Amount Face amount 39,100,000 Interest payment Periods to maturity Market interest rate Issue price 3-b. The bonds will issue at OA Discount OA Premium O Face amount (The following information applies to the questions displayed below.) On January 1, Year 1, a company issues $39.1 million of 9% bonds, due in 20 years, with interest payable semlannually on June 30 and December 31 each year. The proceeds will be used to build a:new ride that combines a roller coaster, a water ride, a dark tunnel, and the great smell of outdoor barbeque, all in one ride. Exercise 9-18B Part 3 3-a. If the market rate is 10%, calculate the issue price. (EV of $1. PV of $1. EVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Enter your answers in dollars not in millions. Round "Market interest rate" to 1 decimal place. Round your final answers to the nearest whole dollar.) Bond Characteristics Amount Face amount 39,100,000 Interest payment Periods to maturity Market interest rate Issue price 3-b. The bonds will issue at OA Discount OA Premium O Face amount
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Related Book For
Modern Advanced Accounting in Canada
ISBN: 978-1259087554
7th edition
Authors: Hilton Murray, Herauf Darrell
Posted Date:
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