Ch. 14, Q. 5

Current Attempt in Progress Matlock Corporation issues $470,000 of 996 bonds, dus in 9 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10% Click here to view factor tables. Compute the issue price of the bonds. (Round present value factor calculations to 5 decimal ploeges 125124 and the final answer to decimal plase 58,971) Issue price of the bonds $