1-Bramble Corp. issued $103000 of ten-year, 8% bonds that pay interest semiannually. The bonds are sold to yield 6%. One step in calculating the issue price of the bonds is to

multiply $8240 by the table value for 10 periods and 8% from the present value of an annuity table.

multiply $8240 by the table value for 20 periods and 4% from the present value of an annuity table.

multiply $8240 by the table value for 20 periods and 3% from the present value of an annuity table.

none of these answers is correct.

2-Crane Company issues $5040000, 7%, 5-year bonds dated January 1, 2020 on January 1, 2020. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 6%. What are the proceeds from the bond issue?

ff	3.0%	3.5%	6%	7%
Present value of a single sum for 5 periods	0.86261	0.84197	0.74726	0.71299
Present value of a single sum for 10 periods	0.74409	0.70892	0.55839	0.50835
Present value of an annuity for 5 periods	4.57971	4.51505	4.21236	4.10020
Present value of an annuity for 10 periods	8.53020	8.31661	7.36009	7.02358

$5040000

$5254941

$5253441

$5252626