Cullumber Corporation is about to issue $1,190,000 of 10-year bonds that pay a 6% annual interest rate, with interest payable semi-annually. The market interest rate is 8%. Assuming all bonds are issued, how much can Cullumber expect to receive for the sale of these bonds?

Of the variables listed in the dropdown, choose the variable being calculated? Choose the answer from the menu in accordance to the question statement Amount of annuity paymentFuture valueInterest rateNumber of periodsPresent value

Fill in the remaining variables in the table that follows. (Round rate to 1 decimal place, e.g. 25.5%.)

Variable		Financial Calculator or Tables		Excel
Present value		PV		PV		?
Future value		FV		FV		$
Interest rate		I		Rate			%
Amount of annuity payment		PMT		PMT		$
Number of periods		N		Nper

Calculate the proceeds from the sale of the bonds. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answers to 2 decimal places, e.g. 5,275.25.) Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1.

Proceeds from the sale of the bonds

$Enter your answer in accordance to the question statement