Brief Exercise 6-15

Bridgeport Inc. issues $2,119,100 of 11% bonds due in 10 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 12%. Click here to view factor tables What amount will Bridgeport receive when it issues the bonds? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)

Amount received by Bridgeport when bonds were issued