18. On January 01, 2017, ASU Corporation issued $100,000 face-value bonds, with 6% interest payable on June 30 and December 31, that are due in 3 years. The current market interest rate for the bonds of the same rating is 8%. (1) Using the tables given, compute the selling price of the bonds as of January 01, 2017. (5 points) Hints: The bonds pays a half of 6% interest every half year. The current market interest rate for the bonds of the same rating for a half year is half of 8%. The number of periods is twice of 3 years Time Value of Money Present Value of 1 Periods 3% 4% 5% 6% 7% 8% 3 .91514 .88900 .86384 .83962 .81630 .79383 5 .86261 .82193 .78353 .74726 .71299 .68058 6 .83748 .79031 .74622 .70496 .66634 .63017 Present Value of an Ordinary Annuity of 1 Periods 3% 4% 5% 6% 7% 8% 3 2.82861 2.77509 2.72325 2.67301 2.62432 2.57710 5 4.57971 4.45182 4.32948 4.21236 4.10020 3.99271 6 5.41719 5.24214 5.07569 4.91732 4.76654 4.62288