Appendix 1 EX 11-12 Present value of bonds payable; discount Pinder Co. produces and sells high-quality video equipment. To finance its operations, Pinder issued fective) interest rate of 9%, Determine the present value of the bonds payable, using the present $25,000,000 of five-year, 7% bonds, with interest payable semiannually, at a market (ef- value tables in Exhibits 5 and 7. (Round to the nearest dollar.) Appendix 1 EX 11-13 Present value of bonds pavable: premium