AppendixCalculate Issuance Price Suppose that a company issues the following bonds at different times. Interest on the bonds is paid annually. $80,000 of 6%, 10-year bonds when the market rate of interest is 7% $60,000 of 8%, 6-year bonds when the market rate of interest is 6% $120,000 of 10%, 5-year bonds when the market rate of interest is 8%

eBook Exercise 9-33 Appendix-Calculate Issuance Price Suppose that a company issues the following bonds at different times. Interest on the bonds is paid annually. 1. $80,000 of 6%, 10-year bonds when the market rate of interest is 7% 2. $60,000 of 8%, 6-year bonds when the market rate of interest is 6% 3. $120,000 of 10%, 5-year bonds when the market rate of interest is 8% Required: Calculate the issuance price for each bond Bond 1 Bond 2 Bond 3