a company issued $1,260,000 worth of 15-year bonds with a 5% interest rate. interest is to be paid annually. the issue date is January 1, 2020 and the company has a year end of December 31..

calculate the bond issue price under each market interest rate.

4%

5%

6%

round the answers to the nearest whole number.

I need step by step explanation plus answer.

hp Present Value Factors for a Single Value Present Value Factors 4 Appendix II PRESENT VALUE FACTORS Period Interest Rate 196 200 306 496 5% 6% 7% 896 996 1096 1196 1296 1396 1496 1596 1646 10.9901 0.9904 0.9709 09615 0.9524 0.94340.9346 0.9259 09174 0.9091 0,90090.8929 0.8850 0.8772 0.8696 0.8621 0.8547 0.8475 0.8403 0.8333 1796 18 19% 20% 20.9903 0.9612 0.9426 09245 0.9070 0,8900 0,8734 0,8573 0.8417 0.8264 0.8116 0.7972 0.7831 0.7695 0.7561 0.7432 0.7305 07192 0.7062 0.6944 30.9706 09423 0.9151 0.8890 0.8638 0.8396 0,8163 0.7938 0.7722 0.7513 0.7312 07118 0.6931 0,6750 0.6575 0.6407 0.6244 0.6086 0.5934 0.5787 0.9610 0.9238 0.8885 0.8548 0.8227 0.7921 0,7629 0.750 0.7084 0.6830 0.6587 0.6355 0.6133 0.5921 0.5718 0.5523 0.5337 0.5158 0.4987 0.4823 5 0.9515 0.9057 0.8626 0.8219 0.7835 0.7473 0.7130 0.6806 0.6499 0.6209 0.5935 0.5674 0.5428 0.5194 0.4972 0.4761 0.4561 0.4371 0.4190 0.4019 6 0.9420 0.8880 0.8375 0.7903 0.7462 0.7050 0.6663 0.6302 0.5963 0.5645 0.5346 0.5066 0.4803 0.4556 0.4323 0.4104 0.3898 0.3704 0.3521 0.3349 Z 0.9327 0,8706 0.8131 0.7599 0.7107 0.6651 0.6227 0.5835 0,5470 0.5132 04817 0.4523 04251 0.3996 0.3759 0.3538 0.3332 0.3139 0.2959 0.2791 8 0.9235 0.8535 0.7894 0.7307 0.6768 0.6274 0.5820 0.5403 0.5019 0.4665 0.4339 0.4039 0.3762 0,3506 0.3269 03050 0.2848 0.2660 0.2487 0.2326 9 9 0.9143 0.8368 0.7664 0.7026 0.6446 0.5919 0.5439 0.5002 0.4604 04241 0,3909 0.3606 0.3329 0,3075 0.2843 0.2630 0.2434 0.2255 0.2090 0.1938 10 0.9053 0.8203 0.7441 0.6756 0.6139 0.55840.5083 0.4632 0.4224 0.3855 0,3522 0.3220 0.2946 0.2697 0.2472 0.2267 0.2080 0:1911 0.1756 0.1615 11 0.8963 0.8043 0.7224 0.6496 0.5847 0,5268 0.4751 0.4289 0.3875 0,3505 0,3173 0,2875 0.2607 0.2366 0.2149 0.1954 0.1778 0.1619 0.1476 0.1346 12 0.8874 0.7885 0.7014 0.6246 0.5568 0.4970 0.4440 0.3971 0,3555 0.3186 0.2858 0.2567 0.2307 0.2076 0.1869 0.1685 0.1520 0.1372 0.1240 0.1122 13 0.8787 0.7730 0.6810 0.6006 0.5303 0.4688 0.4150 0.3677 0.3262 0.2897 0.2575 0.2292 0.2042 0.1821 01625 0.1452 0.1299 0.1452 0.1299 0.1163 0.1042 0.0935 14 0.8700 0.7579 0.6611 0.5775 0.5051 0,4423 0.3878 0.3405 0.2992 0.2633 0.2320 0.2046 0.1807 0.159701413 0.1252 0.1110 0.0985 0.0876 0.0779 15 0,8613 0.7430 0,6419 0.5553 0.4810 0.4173 0.3624 0.3152 0.2745 0.2394 0.2090 0.1827 0.1599 0.1401 0.1599 0.1401 0.1229 0.1079 0.0949 0,0835 0.0736 0.0649 16 0.8528 0.7284 0.6232 0.5339 0.4581 0.3936 0.3387 0.2919 0.2519 0,2176 0.1883 0.1631 0.1415 0.1229 0.1069 0.0930 0.0811 0.0708 0.0618 0.0541 17 0.8444 0.7142 0.6050 0.5134 0.4363 0.3714 0.3166 0.2703 0.2311 0.1978 0.1696 0.1456 0.1252 0.1078 0.0929 0.0802 0.0693 0.0600 0.0520 0.0451 18 0.8360 0.7002 0.5874 0.4936 0.4155 0.3503 0.2959 0.2502 0.2120 0.1799 0.1528 0.1300 0.1108 0.0946 0.0808 0.0691 0.0592 0:0508 0.0437 0.0376 19 0.8277 0.6864 0.5703 0.4746 0.3957 0,3305 0.2765 0.2317 0.1945 0.1635 0.1377 0.1377 0.1161 0,0987 0.0829 0.0703 0.0596 0,0506 0.0431 0.0367 0.0313 20 0.8195 0.6730 0.5537 0.4564 0.3769 0.3118 0.2584 0.2145 0.1784 0.1486 0.1240 0.1037 0,0868 0.0728 0.0611 0.0514 0.0433 0.0365 0.0308 0.0261 21 0.8114 0.6598 0.5375 0.4388 0.3589 0.2942 0.2415 0.1987 0.1637 0.1351 0.1117 0.0926 0.0768 0.0638 0.0531 0.0443 0.0370 0.0309 0.0259 0.0217 22 0.8034 0.6468 0.5219 0.4220 0.3418 0.2775 0.2257 0.1839 0.1502 0.1228 0.1007 0,0826 0,0680 0.0560 0.0462 0.0382 0.0316 0.0262 0.0218 0.0181 23 0.7954 0.6342 0.5067 0.4057 0.3256 0.2618 0.2109 0.1703 0.1378 0.1117 0.0907 0.0738 0.0601 0.0491 0.0402 0.0329 0.0270 0.0222 0.0183 0.0151 24 0.7876 0.6217 0.4919 0.3901 0.3101 0.2470 0.1971 0.1577 0.1264 0.1015 0.0817 0.0659 0.0532 0.0431 0.0349 0.0284 0.0231 0.0188 0.0154 0.0126 25 0.7798 0.6095 0.4776 0.3751 0.2953 0.2330 0.1842 0.1460 0.1160 0,0923 0.0736 0.0588 0.0471 0.0378 0.0304 0.0245 0.0197 0.0160 0.0129 0.0105 30 0.7419 0.5521 0.4120 | 0.3083 0.2314 0,1741 0.1314 0.0994 0.0754 0.0573 0.0437 0.0334 0.0256 0.0196 0.0151 0.0116 0.0090 0.0070 0.0054 0.0042 40 0.6717 0.4529 0.3066 0.2083 0.1420 0.0972 0.0668 0.0460 0.0318 0.0221 0.0154 0.0107 0.0075 0.0053 0.0037 0.0026 0.0019 0.0013 0.0010 0.0007 50 0.6080 0.3715 0.2281 0.1407 0.0872 0.0543 0.0339 0.0213 0.0134 0.0085 0.0054 0.0035 0.0022 0.0014 0.0009 0.0006 0.0004 0.0003 0.0002 0.0001 6% Type here to search OP . 10 (?) hp Present Value Factors for an Annuity Appendix II .3 Period Interest Rate 196 296 3 44 595 696 796 896 996 1096 7190 1296 1396 14% 1598 1696 1796 1896 1996 10.9901 0.9804 0.9709 20% 0.9615 0.9524 0.9434 0.9346 0.9259 0.9174 0.9091 0.9009 0,8929 0.8850 0.8772 0.8696 0.8621 0.8547 0.8475 0.8403 0.8333 2 1.9704 1.9416 19135 1.8861 1.8594 1.8334 1.BOBO 1.7833 1.7591 1.7355 1.7125 1,6901 1,6681 1.6467 1.6257 1,6052 7.5852 1.5656 1.5465 1.5278 3 2.9410 2.8839 2.8286 2.7751 2.7232 2.6730 2.6243 2.5771 2.5313 2.4869 24437 2.4018 2.3612 2.3216 2.2832 2.2459 2.2096 2.1743 2.1399 2.1065 4 3.9020 3.8077 3.6299 3.5460 3.5460 3.4651 3.3872 3.3121 3,2397 3,1699 3.1024 3.0373 2.9749 2.9137 2.8550 2.7982 2.7432 2.6901 2.6386 2.5887 5 4.8534 4.71354.5797 4.4518 4.3295 4.2124 41002 3.9927 3.8897 3.7908 3.69593,6048 3.5172 34331 3.3522 3.2743 3.1993 3.12 3.1272 3.0576 2.9906 6 5.7955 5.6014 5.4172 5.2421 5.0757 4.9173 4.7665 4.6229 4.4859 4.3553 4.230S 4.1114 3.9975 3.8887 3.7845 3.6847 3.5892 3,4976 3.4098 3,4098 3.3255 76.7282 6.4720 6.2303 6,0021 5.7864 5.5824 5.3893 5.2064 5.0330 5.0330 4.8684 4,8684 4.7122 4.5638 4.4226 4.2883 4.1604 4.0386 3.9224 3.8115 3.7057 3.6046 8 7.6517 7.3255 70197 6.73276,4632 6,2098 5.9713 5.7466 5.5348 5.3349 5.1461 4.9676 4.7988 4.7988 4.6389 4.4873 4.3436 4.2072 4,0776 3.9544 3.8372 9 8.5660 8.1622 7.7861 7,4353 7.1078 6.8017 6.5152 6.2469 5.9952 5.7590 5.5370 5.5370 5.3282 5.1317 4.9464 4.7716 4.6065 4.4506 4.3030 4,1633 4.0310 10 9.4713 8.9826 8.5302 8.1109 7.7217 7.3601 7.0236 6.7101 6,4177 6.1446 5.8892 5,6502 5.4262 5.2161 5.0188 4.8332 4.6586 4.4941 4.3389 4.1925 11 10.3676 9.7868 9.2526 8.7605 8.7605 8.3064 7.8869 7.4987 7.1390 6.8052 6.4951 6,2065 5.9377 5.6869 5.4527 5.2337 5.0286 4.8364 4.6560 4.4865 4.3271 12 11.2551 10.5753 9.9540 9.3851 8.8633 8.3838 7.9427 7.5361 7.1607 6.8137 6.8137 6.4924 6.1944 5.9176 5.6603 5.4206 5.1971 4.9884 4.7932 4.6105 44392 13 12.1337 11.3484 10.6350 9.9856 9.3936 8.8527 8.3577 7.9038 7.4869 7.1034 6.7499 6,4235 6.1218 5.8424 5.5831 5.3423 5.1183 49095 4.7147 4.5327 14 13.0037 12.1062 11.2961 10.5631 11.2961 10.5631 9.8986 9.2950 8.7455 8.2442 7.7862 7.3667 6.98196,6282 6.3025 6.0021 5.724 5.4675 5.2293 5.2293 5.00BT 4.8023 4.6106 15 13.8651 12.8493 11.9379 11.1184 10.3797 | 9.7122 9.1079 8,5595 8.0607 7,6061 7.1909 6.8109 6,4624 61422 5.8474 5.5755 5.3242 5.09164,8759 4.6755 16 14.7179 13.5777 12.5611 11.6523 10,8378 10.1059 9.4466 8.8514 8.3126 7.8237 7.3792 6.9740 6.6039 6.2651 59542 5.6685 5.4053 5.1624 49377 4.7296 17 15.5623 14.291913.1661 12.1657 11.2741 10.4773 9.7632 9.1216 8.5436 8.0216 7.5488 7.1196 6.7291 6.3729 6.0472 5.7487 5.4746 5,2223 4.9897 4.7746 18 | 16.3983 14.9920 13.7535 12.6593 11.6896 10.8276 10.0591 9.3719 8.7556 8.2014 7.7016 7.2497 6.8399 6.4674 6.1280 5.817B 5.5339 5.2732 5.0333 4,8122 19 17.2260 15.6785 14.3238 13.1339 12.0853 11.1581 10.3356 9.6036 8.9501 8.3649 7.8393 7.3658 6.9380 6.9380 6.5504 6.1982 5.8775 5.5845 5.3162 5.0700 4.8435 2018.0456 16.3514 14.8775 13.5903 12.4622 11.4699 10.5940 9.8181 9.1285 8.5136 7.9633 7.4694 7.0248 6.6231 6.2593 5.9288 5.6278 5.3527 5.3009 5.1009 4.8696 21 18.8570 17.0112 15.4150 14.0292 12.8212 11.7641 10.8355 10.0168 9.2922 8.6487 8.0751 7.5620 7.1016 6,6870 6.3125 5.9731 5.6648 5.3837 5.1268 4,8913 22 19.6604 17.6580 15.9369 14.4511 13.1630 12.0416 11.0612 10.2007 9.4424 8.7715 8.1757 7.6446 7.1695 6.7429 6.3587 6.0113 5.6964 5.4099 5.1486 5.1486 4.9094 23 20.4558 18.2922 16.4436 14.8568 13.4886 12.3034 11.2722 10.3711 9.5802 8,8832 8.2664 77184 7.2297 6.7921 6.3988 6.0442 5.7234 5.4321 5.1668 4.9245 24 21.2434 18.9139 16.9355 15.2470 13.7986 12.5504 11.4693 10.5288 9.7066 8.9847 8.3481 7.7843 7.2829 6.8351 6.4338 6.0726 5.7465 5.4509 5.1822 4.9371 25 22.0232 19.5235 17.413115.6221 14.0939 12.7834 11.6536 10.6748 9.8226 9.0770 8.4217 7.8431 7.3300 6.8729 6,4641 6.0971 5.7662 5.4669 5.1951 49476 30 25.8077 22.3965 19.600417.2920 15.3725 13.7648 12.4090 11.2578 10.2737 9.4269 8,6938 8.0552 7.4957 7.0027 6.5660 6.1772 5.8294 5.5168 5.2347 4.9789 40 32.8347 27.3555 23.1148 19.7928 17.1591 15.0463 13.3317 11.9246 10.7574 9.7791 8.9511 8.2438 7.6344 7.1050 6.6418 6.2335 5.8713 5.5482 5.8713 5.5482 5.2582 4.9966 7.1327 6.6605 6.2463 5.8801 5.5541 5.2623 49995 50 39.1961 31.4236 25.7298 21.4822 18.2559 15.7619 13.8007 12.2335 10.9617 9.9148 9.0417 8.3045 7.6752