31. Mr. Moore was thinking of taking a vacation and going to the Sun Highway in Glacier National Park - located in northwestern Montana - since it is one of the most spectacular drives in North America. Unfortunately he found out from some relatives in the area that the road needs to be resurfaced due to many harsh winters. Him being the finance wizard that he is, he was thinkint about how the state would finance such a project with bonds. If the State of Montana has decided to sell state bonds to cover the needed repairs, A Montana state savings bond can be converted to $100 at maturity six years from purchase. If the state bonds are to be competitive with U.S. savings bonds, which pay 8% annual interest (compounded annually), at what price must Montana sell its bonds? (Assume no cash payments on savings bonds prior to redemption.)

Clipboard a Conaitional Format a - Font Alignment Formatting Table Number J19 2 Moores Familay Restaurant Financial Data 3 Budget Worksgheet 4 Sales 5 Cost of Product 6 Labor 7 Benefits 8 Utilities 9 Loan Principle Repayments 10 Insurance & Property Taxes 11 Services (accounting, trash, cleaning, etc.) 12 Other: SG&A, advertising, promostions 13 Total Costs 14 Earnings Before Interest, Income Taxes, & Depreciation (EBITD 15 Interest on loan 16 Income Taxes 17 Depreciation on values 18 Earnings After Interest, Income Taxes, & Depreciation 19 Meals Sold 20 Average Meal Value 21 2013 2014 (Present Day) 2015 Budget Forecast $1,575,396 $697,211 $330,772 $79,872 $54,340 $1,696,296 Answer to number 17 $597,211 thswer to number 18 340,695 Answer to number 19 $114,519 Answer to number 20 $58,241 $50,644 $110,000 $84,771 so, $110,000 $41,051 77,629 $110,000 $43,908 Answer to number 21 $93,248 $1,341, 748 Answer to number 22 $354,548 Answer to number 23 $3,000 $1,390,875 $184,521 $3,500 51,666 $71,176 $58,179 233,392 6.75 $3,000 $99,273 $61,777 $190,497 242,328 7.00 EVALUE! $61,177 VALUE! 261,714 7.35 23 25 27 28