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Calculate the proceeds (issue price) of Drenne, Inc., issued $36 million face amount of B-year, 14% stated rate bonds when market interest rates were 12

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Calculate the proceeds (issue price) of Drenne, Inc., issued $36 million face amount of B-year, 14% stated rate bonds when market interest rates were 12 %. The bonds pay semiannual interest each June 30 and mature on December 31, 2025. Calculate the proceeds (issue price) of Drenned, Inc's. bonds on January 1, 2016, assuming that the bones were sold to provide a market rate of return to the investor (Round PV factor to 4 decimal places.) Assume instead that the proceeds were $3, 563,000. Use the horizontal model to record the payment of semiannual interest and the related discount amortization on June 30, 2016. Assuming that the discount of $37,000 is amortized on a straight-ire basis. (Use amounts with + for increases and amounts with - for decreases.) Calculate the proceeds (issue price) of Drenne, Inc., issued $36 million face amount of B-year, 14% stated rate bonds when market interest rates were 12 %. The bonds pay semiannual interest each June 30 and mature on December 31, 2025. Calculate the proceeds (issue price) of Drenned, Inc's. bonds on January 1, 2016, assuming that the bones were sold to provide a market rate of return to the investor (Round PV factor to 4 decimal places.) Assume instead that the proceeds were $3, 563,000. Use the horizontal model to record the payment of semiannual interest and the related discount amortization on June 30, 2016. Assuming that the discount of $37,000 is amortized on a straight-ire basis. (Use amounts with + for increases and amounts with - for decreases.)

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