Assume that Acropolis SA on January 1, 2020, issues 100,000 of 9% bonds, due in five years, with interest payable annually at year-end. Required. Calculate the issue price of the bond when the market interest rate is 8%. Use the following tables for the PV calculation. Table A-3 Present Value Interest Factors for One Dollar Discounted at k Percent for n Periods: PVIF.=1/(1+k)" Period 1% 1 2% 0.9901 0.9804 0.9709 3% 4% 5% 0.9615 2 0.9803 0.9612 0.9426 0.9246 0.9070 3 0.9706 0.9423 0.9151 0.8890 0.8638 4 0.9610 0.9238 0.8885 0.8548 0.8227 5 0.9515 0.9057 0.8626 0.8219 0.7835 0.7473 6% 0.9524 0.9434 0.9346 0.8900 0.8734 0.8396 0.8163 0.7921 0.7629 0.7130 7% 8% 9% 10% 0.9259 0.9174 0.9091 0.8573 0.8417 0.8264 0.8116 0.7972 0.7938 0.7722 0.7513 0.7312 0.7118 0.7350 0.7084 0.6830 0.6587 0.6355 0.6806 0.6499 0.6209 0.5935 0.5674 11% 12% 0.9009 0.8929 6 0.9420 0.8880 0.8375 0.7903 0.7462 0.7050 7 0.9327 0.8706 0.8131 0.7599 0.7107 0.6651 8 0.9235 0.8535 0.7894 0.7307 0.6768 0.6274 9 0.9143 0.8368 0.7664 0.7026 0.6446 0.5919 10 0.9053 0.8203 0.7441 0.6756 0.6139 0.5584 0.6663 0.6302 0.5963 0.6227 0.5835 0.5470 0.5132 0.5820 0.5403 0.5019 0.4665 0.5439 0.5002 0.4604 0.4241 0.3909 0.3606 0.5083 0.4632 0.4224 0.3855 0.3522 0.3220 0.5645 0.5346 0.5066 0.4817 0.4523 0.4339 0.4039 Table A-4 Present Value Interest Factors for a One-Dollar Annuity Discounted at k Percent for n Periods: PVIFA = [1 - 1/(1+ k)"]/k Period 1% 1 2 3 2.9410 4 3.9020 5 2% 3% 4% 0.9901 0.9804 0.9709 0.9615 1.9704 1.9416 1.9135 1.8861 2.8839 2.8286 2.7751 3.8077 3.7171 3.6299 3.5460 4.8534 4.7135 4.5797 5% 6% 7% 0.9524 0.9434 0.9346 8% 0.9259 1.8594 1.8334 1.8080 1.7833 2.7232 2.6730 2.6243 2.5771 3.4651 3.3872 3.3121 4.4518 4.3295 4.2124 4.1002 9% 10% 11% 12% 0.9174 0.9091 0.9009 0.8929 1.7591 1.7355 1.7125 1.6901 2.5313 2.4869 2.4437 2.4018 3.2397 3.1699 3.1024 3.0373 3.9927 3.8897 3.7908 3.6959 3.6048 6 5.7955 5.6014 7 8 9 10 5.4172 5.2421 5.0757 6.7282 6.4720 6.2303 6.0021 5.7864 7.6517 7.3255 7.0197 6.7327 6.4632 8.5660 8.1622 7.7861 7.4353 7.1078 9.4713 8.9826 8.5302 8.1109 7.7217 4.9173 4.7665 4.6229 4.4859 4.3553 4.2305 4.1114 5.5824 5.3893 5.2064 5.0330 4.8684 4.7122 4.5638 6.2098 5.9713 5.7466 5.5348 5.3349 5.1461 4.9676 6.8017 6.5152 6.2469 5.9952 5.7590 5.5370 5.3282 7.3601 7.0236 6.7101 6.4177 6.1446 5.8892 5.6502