.5 - Selling price of bonds IMPORTANT: In order to receive full credit for this problem, be sure to do the following: a) Indicate which interest table(s) you referred to (i.e., Tables 1, 2, 3, 4) b) Indicate which of the following formulas you used to solve this problem: 1) FV = 5 x Fli,n) 2) PV = S x Fli,n) 3) FVA = I x Fli,n) 4) PVA = 1 x Fli,n) c) Show your calculations Madison Inc. issues $2,500,000 of 6% bonds due in 12 years with interest payable at year-end each year. The current market rate of interest for bonds of similar risk is 8% What amount will Madison receive when it issues the bonds