Bond Issue Price} On December 31, 2017, Nelson Construction issued 3,500 of ($ 1,000) face value bonds
Question:
Bond Issue Price}
On December 31, 2017, Nelson Construction issued 3,500 of \(\$ 1,000\) face value bonds with a stated rate of \(8 \%\), maturing in 10 years. Interest is payable semiannually on June 30 and December 31 .
Required:
What is the issue price if the bonds are sold to yield \(6 \%\) ? (Note: Round to the nearest dollar.)
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Related Book For
Cornerstones Of Financial Accounting
ISBN: 9780176707125
2nd Canadian Edition
Authors: Jay Rich, Jefferson Jones, Maryanne Mowen, Don Hansen, Donald Jones, Ralph Tassone
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