28. Which of the following statements is/are true? I. If a $100,000 face value bond is issued at 110, the cash received will be $110,000. II. If a public company issued bonds at a discount, it indicates that the company has a poor credit rating III. If the market rate is 10% and the stated rate is 8%, the bonds will sell at a discount. IV. If the market rate is 10% and the stated rate is 12%, the bonds will sell at a premium Select one: a. All four statements are correct. b. I, III, and IV c. IV, only d. I, II, and IV e. I and IV 29. Collins Company signed a lease for a 1,200-square-foot office building to begin on January 1, 2017. The lease has a 6-year term and should be accounted for as a finance lease. The lease does not require a down payment, but instead requires 5 equal lease payments of $26,000 beginning on December 31, 2017 through December 31, 2021. What is the list price (present value) of the lease agreement if it has an implicit rate of 7%? a. 123,930 b. 112,566 c. 106,605 d. 88,0671 30. Macko Inc. received equipment valued at $40,000 and a building valued at $200,000 in exchange for 4,500 shares of $32par value common stock and $50,000 cash. The entry to record this transaction would include Select one: a. Credit to Additional Paid in Capital for $ 46,000 b. Credit to Common Stock for $190,000 c. Credit to Additional Paid in Capital for $ 190,000 d. Credit to Retained Earnings for $46,000