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Analyzing and Reporting Financial Statement Effects of Bond Transactions On January 1 of the current year, Banek Inc. issued $350,000 of 8%, nine-year bonds
Analyzing and Reporting Financial Statement Effects of Bond Transactions On January 1 of the current year, Banek Inc. issued $350,000 of 8%, nine-year bonds for $309,086, which implies a market (yield) rate of 10%. Semiannual interest is payable on June 30 and December 31 of each year. a. Show Excel inputs to confirm the bond issue price. Note: Round your answer to two decimal places. rate= nper = 5 18 pmt= (14,000) FV = (350,000) Answer = $ 309,086
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