Bing Corporation issues 100, $1,000 bonds that pay 5% annually, and mature in 5 years. What is the Present Value of the Bond on the date of issuance? The market rate of similar bonds during this time was 6% 5 Present Value of 1 10 Periods 5 10 Periods Present Value of an Annuity 5% 5% .78353 .61391 4.32948 7.72173 6% .74726 .55839 6% 4.21236 7.36009 Round your answer to the nearest whole dollar.

Bing Corporation issues 100, $1,000 bonds that pay 5% annually, and mature in 5 years. What is the Present Value of the Bond on the date of issuance? The market rate of similar bonds during this time was 6% Present Value of 1 Periods 5% 6% 5 .78353 .74726 10 .61391 .55839 Present Value of an Annuity Periods 5% 6% 5 4.32948 4.21236 10 10 7.72173 7.36009 Round your answer to the nearest whole dollar.