16. Stoops Corp. has 10-year of $420,345 has 10-year bonds with a face value of $400.000 and a carrying value 6. On June 30, 2017, they pay their bondholders $12.000 bondsaf ntrest expense. Please provide the June 30, 2017 carrying A. $400,000 B $408,345 C. $418,854 D. $421,836 17. The time value of money is used in calculating bond prices because: Cash interest payments to bondholders will change as market rates change B. Bond investors receive future payments and purchase bonds with current dollars The company might choose to repay the bonds prior to their maturity date The amount to be repaid at maturity will change as market rates change C. D. Gary is nearing retirement and is considering an annuity offer from California Annuity Corp which promises to pay him $40,000 on the last day of each year, for 15 years If Gary believes that he could earn 4% if he invested his money himself, the present value (rounded to the nearest whole dollar) to Gary of this offer is: A. $342,739 B. $40,000 $444,736 D. $600,000