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Cumming Corp issues a $6,000,000,5% bond on 1 April 20X3. At this time, market interest rates are in the range of 6%. The band had
Cumming Corp issues a $6,000,000,5% bond on 1 April 20X3. At this time, market interest rates are in the range of 6%. The band had a 10-year life from 1 April 203, and paid interest semi-annually on 31 March and 30 September (PV of S1. PVA of S1. and PVAD of S1.) (Use appropriate factor(s) from the tables provided.) Required: 1 Calculate the proceeds that would be raised on bond issuance (Round time value factor to 5 decimal places. Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) 2. Prepare an amortization table using the straight-line method of amortization Complete the first four payments onty (Round your answers to the nearest whole dollar amount.)
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