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Brief Exercise 5-12 (Algo) Price of a bond [LO5-10] On December 31, 2021, Interlink Communications issued 5% stated rate bonds with a face amount
Brief Exercise 5-12 (Algo) Price of a bond [LO5-10] On December 31, 2021, Interlink Communications issued 5% stated rate bonds with a face amount of $106 million. The bonds mature on December 31, 2051 Interest is payable annually on each December 31, beginning in 2022. (FV of $1. PV of $1. EVA of $1 PVA of $1 EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Determine the price of the bonds on December 31, 2021, assuming that the market rate of interest for similar bonds was 6% (Round your final answers to nearest whole dollar amount.) Table values are based on n= Cash Flow Interest Principal Price of bonds 30 6% Amount Present Value
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