1)Sunland Company issues $19700000 of 10-year, 9% bonds on March 1, 2024 at 98 plus accrued interest. The bonds are dated January 1, 2024, and pay interest on June 30 and December 31. What amount of cash is received on the issue date? a) $19010500 b)$19601500 c)$20340250 d)$19306000

2) A company issues $15400000, 5.8%, 20-year bonds to yield 6% on January 1, 2024. Interest is paid on June 30 and December 31. The proceeds from the bonds are $15044032. What is interest expense for 2025 if the straight-line method of amortization is used? a)$893200 b)$910998 c)$1266361 d)$904837

3) Cullumber Company issues $26500000, 5.0%, 5-year bonds dated January 1, 2024 on January 1, 2024. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 4.0%. Given the following present value factors, what are the proceeds from the bond issue? 2.0% 2.5% 4.0% 5.0% Present value of a single sum for 5 periods 0.90573 0.88385 0.82193 0.78353 Present value of a single sum for 10 periods 0.82035 0.78120 0.67556 0.61391 Present value of an annuity for 5 periods 4.71346 4.64583 4.45182 4.32948 Present value of an annuity for 10 periods 8.98259 8.75206 8.11090 7.72173

a)$27681816

b)$27690241

c)$27683612

d)$26500000