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4. Mowning Company issues $3,000,000, 6%, 5-year bonds dated January 1, 2020 on January 1, 2020. The bonds pay interest semiannually on June 30 and
4. Mowning Company issues $3,000,000, 6%, 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 5%. What are the proceeds from the bond issue? 1 2.5% 3.0% 5.0% 6.0% Present value of a single sum for 5 periods .88385 86261 78353 74726 Present value of a single sum for 10 periods .7812074409 .61391 | .55839 Present value of an annuity for 5 periods 4.64583 4.57971 | 4.32948 | 4.21236 Present value of an annuity for 10 periods | 8.75206 | 8.53020 | 7.72173 | 7.36009 a. $3,000,000 b. $3,129,896 c. $3,131,285 d. $3,130,385
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