1. On January 1, 2017, bonds with a face value of $94,000 were sold. The bonds mature on January 1, 2027. The face interest rate is 8% annually. The bonds pay interest semiannually on July 1 and January 1. The market rate of interest is 10% annually. What is the market price of the bonds? The present value of $1 for 20 periods at 5% is 0.377. The present value of an ordinary annuity of $1 for 20 periods at 5% is 12.462. The present value of $1 for 10 periods at 10% is 0.463. The present value of an ordinary annuity of $1 for 10 periods at 10% is 6.145. (Round your final answer to the nearest dollar.)

A.$94,000

B.$82,295

C.$66,627

D.$97,760

2.On the cash flow statement, the purchase and sale of bonds of other companies to be held for an extended time are reported as:

A.operating activities

B.financing activities

C.investing activities

D.would not appear on a cash flow statement

3.On April 1, 2016, Transportation Imbalance Company (TIC) purchased $5,000 of 6% bonds as alongminusterm investment to be held to maturity. TIC is a private corporation that elects to report its financial results in accordance with ASPE. Its year end is December 31 an Interest dates are April 1 and October 1. The bonds mature 36 months from the purchase date. The purchase price of the bonds was $5,120, and the premium is amortized on the straightminusline basis. Assume the proper adjusting entry was made on December 31, 2016, to record accrued interest receivable and amortization of the premium. The total interest revenue recorded by Transportation Imbalance Company on April 1, 2017 will be:

A.$72.50

B.$150.00

C.$75.00

D.$65.00

4.Yukon Electrical Company owns all of the stock of Simmons Corporation and 80% of the stock of IminusTek Corporation. In 2017, Yukon earned net income of $450,000, Simmons earned $120,000, and IminusTek earned $180,000. Yukon's consolidated income statement would report consolidated net income of:

A.$714,000

B.$750,000

C.$450,000

D.$570,000