Determining Bond Selling Price

Calculate the bond selling price for the three separate scenarios that follow.

a$.33$M Corp. authorized and issued $$200,000,6\%,20-$year bonds payable on January $1.$ Calculate the selling price of the bonds

if the bonds pay cash interest semiannually on July $1$ and January $1,$ and the market rate of interest on similar bonds is $8\%.$

b$.33$ M Corp. authorized and issued $$500,000,7\%,10-$year bonds payable on January $1.$ Calculate the selling price of the bonds

if the bonds pay cash interest semiannually on July $1$ and January $1,$ and the market rate of interest on similar bonds is $6\%.$

c$.33$ M Corp. issued $$150,000,5\%,10-$year bonds payable on March $31,$ Year $1.$ The bonds were authorized on January $1$ of

Year $1.$ Calculate the selling price of the bonds $($including interest$)$ if the bonds pay cash interest annually on January $1,$ and the

market rate of interest on similar bonds is $6\%.$

Note: Round answers to the nearest whole dollar.

a$.$ $$160,414$

b$.$ $$537,194$

c$.$ $$138,959$