Question
A $300,000, ten-year, 8% bond issue was sold to yield 9% interest payable annually. Actuarial information for 10 periods is as follows: 8% 9% Present
A $300,000, ten-year, 8% bond issue was sold to yield 9% interest payable annually. Actuarial information for 10 periods is as follows:
| 8% | 9% | |
| Present value of 1 | 0.46319 | 0.42241 |
| Present value of an annuity of 1 | 6.71008 | 6.41766 |
Refer to Exhibit 14-1. At date of issuance cash received would be
$292,998
$287,765
$299,998
$280,747
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren
3rd Edition
0131800345, 978-0131800342
