A $500,000, ten year, 7% bond issue was sold to yield 6% interest payable annually. Actuarial information for 10 periods is as follows:

Present value of $1 @ 6% = 0.50835 @ 7% = 0.55839

Present value of an annuity of $1 @ 6% = 7.02359 @ 7% = 7.36009

On date of issuance, cash received would be

A $500,000, ten year, 7% bond issue was sold to yield 6% interest payable annually. Actuarial information for 10 periods is as follows:

Present value of $1 @ 6% = 0.50835 @ 7% = 0.55839

Present value of an annuity of $1 @ 6% = 7.02359 @ 7% = 7.36009

On date of issuance, cash received would be

$489,903

$464,883

$536,798

$511,778