Determining the present value of bonds payable

Interest rates determine the present value of future amounts. $($Round to the nearest

dollar.$)$

Requirements

$1.$ Determine the present value of $10-$year bonds payable with face value of $$86,000$

and stated interest rate of $14\%,$ paid semiannually. The market rate of interest is

$14\%$ at issuance.

$2.$ Same bonds payable as in Requirement $1,$ but the market interest rate is $16\%.$

$3.$ Same bonds payable as in Requirement $1,$ but the market interest rate is $12\%$