(a) Present value of $100,000 to be paid at the end of $ 61,391 five years (Present value of $1 to be received in ten periods at 5 percent per period is $0.61391; $100,000 x 0.61391 = $61,391.) (b) Present value of $6,000 to be paid each six months for five years 46,330 (Present value of an ordinary annuity of $1 per period for ten periods, discounted at 5 percent per period = $7.72173; $6,000 x 7.72173 = $46,330.) Total Proceeds of Bond Issue $107,721