1. On January 1, 2018, bonds with a face value of $91,000 were sold. The bonds mature on January 1, 2028. The face interest rate is 8%. The bonds pay interest semiannually on July 1 and January 1. The market rate of interest is 10%. What is the market price of the bonds on January 1, 2018? 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 20 periods at 4% is 0.456. The present value of an ordinary annuity of $1 for 20 periods at 4% is 13.59. (Round your final answer to the nearest dollar.)

2. On January 2, 2019, Kornis Corporation acquired equipment for $300,000. The estimated life of the equipment is 5 years or 40,000 hours. The estimated residual value is $50,000. What is the balance in Accumulated Depreciation on December 31, 2019, if Kornis Corporation uses the doubledecliningbalance method of depreciation?

A.$120,000

B. $60,000

C.$50,000

D.$100,000

3. On January 2, 2019, Konrad Corporation acquired equipment for $760,000. The estimated life of the equipment is 5 years or 37,000 hours. The estimated residual value is $20,000. If Konrad Corporation uses the units of production method of depreciation, what will be the debit to Depreciation Expense for the year ended December 31, 2020, assuming that during this period, the asset was used 5,000 hours?

A.$100,000

B.$148,000

C.$102,703

D.$ 105,405