Determining the proceeds from Bond Issues Madison Corporation is authorized to issue $670,000 of 5-year bonds dated June 30, 2019, with a stated rate of interest of 9%. Interest on the bonds is payable semiannually, and the bonds are sold on June 30, 2019. Required: Determine the proceeds that the company will receive if it sells the following: (Click here to access the tables to use with this exercise and round your answers to two decimal places, if necessary.) 1. The bonds to yield 10% 2. The bonds to yield 8% TABLE TABLE ofen -117 Present Value of an Ordinary Annuity of 1: po ni =- Present Value of 1: Pria (1 + i]" 1.5% 4.0% 4.5% 5.0% 5.5% 1 0.985222 0.961538 0.956938 0.952381 0.947867 2 0.970662 0.924556 0.915730 0.907029 0.898452 3 0.956317 0.888996 0.876297 0.863838 0.851614 4 0.942184 0.854804 0.838561 0.822702 0.807217 5 0.928260 0.82 1927 0.802451 0.783526 0.765134 6 0.914542 0.790315 0.767896 0.746215 0.725246 7 0.901027 0.759918 0.734828 0.710681 0.687437 8 0.887711 0.730690 0.703185 0.6768390.651599 9 0.874592 0.702587 0.672904 0.6446090.617629 10 0.861667 0.675564 0.643928 0.613913 0.585431 11 0.848933 0.649581 0.616199 0.584679 0.554911 12 0.836387 0.624597 0.589664 0.556837 0.525982 13 0.824027 0.600574 0.564272 0.530321 0.498561 14 0.811849 0.577475 0.539973 0.505068 0.472569 15 0.799852 0.555265 0.516720 0.481017 0.447933 16 0.788031 0.533908 0.494469 0.458112 0.424581 17 0.776385 0.513373 0.473176 0.436297 0.402447 18 0.764912 0.493628 0.452800 0.415521 0.381466 19 0.753607 0.474642 0.433302 0.395734 0.361579 20 0.742470 0.456387 0.414643 0.376889 0.342729 21 0.731498 0.438834 0.396787 0.358942 0.324862 22 0.720688 0.421955 0.379701 0.341850 0.307926 23 0.710037 0.405726 0.363350 0.325571 0.291873 24 0.699544 0.390121 0.347703 0.310068 0.276657 25 0.689206 0.375117 0.332731 0.2953030.262234 26 0.679021 0.360689 0.318402 0.2812410.248563 27 0.668986 0.346817 0.304691 0.267848 0.235605 28 0.659099 0.333477 0.291571 0.255094 0.223322 29 0.649359 0.320651 0.279015 0.242946 0.211679 30 0.639762 0.308319 0.267000 0.231377 0.200944 6.0% 7.0% 0.943396 0.934579 0.889996 0.873439 0.839619 0.816298 0.792094 0.762895 0.747258 0.712986 0.704961 0.666342 0.665057 0.622750 0.627412 0.582012 0.591898 0.543934 0.558395 0.508349 0.526788 0.475093 0.496969 0.444012 0.468839 0.414964 0.442301 0.387817 0.417265 0.362446 0.393646 0.338735 0.371364 0.316574 0.350344 0.295864 0.330513 0.276508 0.311805 0.258419 0.294155 0.241513 0277505 0.225713 0.261797 0.210947 0.246979 0.197147 0.232999 0.184249 0.219810 0.172195 0.207368 0.160930 0.195630 0.150402 0.184557 0.140563 0.174110 0.131367 n 1.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 1 0.985222 0.961538 0.956938 0.952381 0.947867 0.943396 0.934579 2 1.955883 1.886095 1.872668 1.859410 1.846320 1.833393 1.808018 3 2912200 2.775091 2.748964 2.723248 2.697933 2.673012 2.624316 4 3.854385 3.6298953.587526 3.545951 3.505150 3,465106 3.387211 5 4.782645 4.451822 4.389977 4.329477 4.270284 4.212364 4.100197 6 5.697187 5.242137 5.157872 5.075692 4.995530 4.917324 4.766540 7 6.598214 6.002055 5.892701 5.7863735.682967 5.582381 5.389289 8 7.485925 6.732745 6.595886 6.463213 6.334566 6.209794 5.971299 9 8.360517 7.435332 7.268790 7.107822 6.952195 6.801692 6.515232 10 9.222185 8.110896 7.912718 7.721735 7.537626 7.360087 7.023582 11 10.071118 8.760477 8.528917 8.306414 8.092536 7.886875 7.498674 12 10.907505 9.385074 9.118581 8.863252 8.618518 8.383844 7.942686 13 11.7315329.985648 9.682852 9.393573 9.117079 8.8526838.357651 14 12.543382 10.563123 10.222825 9.898641 9.589648 9.294984 8.745468 15 13.343233 11.118387 10.739546 10.379658 10.037581 9.712249 9.107914 16 14.131264 11.652296 11.234015 10.837770 10.462162 10.105895 9.446649 17 14.907 649 12.165669 11.707191 11.274066 10.864609 10.477260 9.763223 18 15.672561 12.659297 12.159992 11.689587 11.246074 10.827 603 10.059087 19 16.426168 13.133939 12.593294 12.085321 11.607654 11.158116 10 335595 20 17.168639 13.590326 13.007936 12.462210 11.950382 11.469921 10.594014 21 17.900137 14.029160 13.404724 12.821153 12.275244 11.764077 10.835527 22 18.620824 14.451115 13.784425 13.163003 12.583170 12.041582 11.061240 23 19.330861 14.856842 14.147775 13.488574 12.875042 12.303379 11272187 24 20.030405 15.246963 14.495478 13.798642 13.151699 12.550358 11.469334 25 20.719611 15.622080 14.828209 14.093945 13.413933 12.783356 11.653583 26 21.398632 15.982769 15.146611 14.375185 13.662495 13.003166 11.825779 27 22.067617 16.329586 15.451303 14.643034 13.898100 13.210534 11.986709 28 22.726717 16.663063 15.742874 14.898127 14.121422 13.406164 12.137111 29 23.376076 16.983715 16.02 1889 15.141074 14.333101 13.590721 12277674 30 24.015838 17.29233 16.288889 15.372451 14.533745 13.764831 12.409041 Table 3 (concluded) n 8.0% 0.0% 1 0.925926 0.917431 2 0.857339 0.841680 3 0.793832 0.772183 4 0.735030 0.708425 5 0.680583 0.649931 6 0.630170 0.596267 7 0.583490 0.547034 8 0.540269 0.501866 9 0.500249 0.460428 10 0.463193 0.422411 11 0.428883 0.387533 12 0.397114 0.355535 13 0.367698 0.326179 14 0.340461 0.299246 15 0.315242 0.274538 16 0.291890 0.251870 17 0.270269 0.231073 18 0.250249 0.211994 19 0.231712 0.194490 20 0.214548 0.178431 21 0.198656 0.163698 22 0.183941 0.150182 23 0.170315 0.137781 24 0.157699 0.126405 25 0.146018 0.115968 26 0.135202 0.106393 27 0.125187 0.097608 28 0.115914 0.089548 29 0.107328 0.062155 30 0.099377 0.075371 0.0% 12.0% 0.909091 0.892857 0.826446 0.797194 0.751315 0.711780 0.683013 0.635518 0.620921 0.567427 0.564474 0.506631 0.513158 0.452349 0.466507 0.403883 0.424098 0.360610 0.385543 0.321973 0.350494 0.287476 0.318631 0.256675 0.289664 0.229174 0.263331 0.204620 0.239392 0.182696 0.217629 0.163122 0.197845 0.145644 0.179859 0.130040 0.163508 0.116107 0.148644 0.103667 0.135131 0.092560 0.122846 0.082643 0.111678 0.073788 0.101526 0.065882 0.092296 0.058823 0.083905 0.052521 0.076278 0.046894 0.069343 0.041869 0.063039 0.037383 0.057309 0.033378 14.0% 16.0% 18.0% 0.877193 0.862069 0.847458 0.769468 0.743163 0.718184 0.674972 0.640658 0.608631 0.592080 0.552291 0.515789 0.519369 0.476113 0.437109 0.455587 0.410442 0.370432 0.399637 0.353830 0.313925 0.350559 0.305025 0.266038 0.307508 0.262953 0.225456 0.269744 0.226684 0.191064 0.236617 0.195417 0.161919 0.2075590.168463 0.137220 0.182069 0.145227 0.116288 0.159710 0.125195 0.098549 0.140096 0.107927 0.083516 0.122892 0.093041 0.070776 0.107800 0.080207 0.059980 0.094561 0.069144 0.050830 0.082948 0.059607 0.043077 0.072762 0.051385 0.036506 0.063826 0.044298 0.030937 0.055988 0.038188 0.026218 0.049112 0.032920 0.022218 0.043081 0.028380 0.018829 0.037790 0.024465 0.015957 0.033149 0.021091 0.013523 0.029078 0.018182 0.01 1460 0.025507 0.015674 0.009712 0.022375 0.013512 0.008230 0.019627 0.011648 0.006975 Table 4 (concluded) n 8.0% 9.0% 0.0% 12.0% 14.0% 16.0% 1 0.925926 0.917431 0.909091 0.892857 0.877193 0.862069 2 1.783265 1.759111 1.735537 1.690051 1.646661 1.605232 3 2.577097 2.531295 2.486852 2.401831 2.321632 2.245890 4 3.312127 3.239720 3.169865 3.037349 2.913712 2.798181 5 3.992710 3.889651 3.790787 3.604776 3.433081 3.274294 6 4.622880 4.485919 4.355261 4.111407 3.888668 3.684736 7 5.206370 5.032953 4.868419 4.563757 4.288305 4.038565 8 5.746639 5.534819 5.334926 4.967640 4.638864 4.343591 9 6.246888 5.995247 5.759024 5.328250 4.946372 4.606544 10 6.710081 6.417658 6.144567 5.650223 5.216116 4.833227 11 7.138964 6.805191 6.4950615.937699 5.452733 5.028644 12 7.536078 7.160725 6.8136926.194374 5.660292 5.197107 13 7.903776 7.486904 7.103356 6.423548 5.842362 5.342334 14 8.244237 7.786150 7.366687 6.628168 6.002072 5.467529 15 8.559479 8.060688 7.606080 6.810864 6.142168 5.575456 16 8.851369 8.312558 7.823709 6.973986 6.265060 5.668497 17 9.121638 8.543631 8.021553 7.119630 6.372859 5.748704 18 9.371887 8.755625 8.2017127.249670 6.467420 5.817848 19 9.603599 8.950115 8.364920 7.365777 6.550369 5.877455 20 9.818147 9.128546 8.513564 7.469444 6.623131 5.928841 21 10.016803 9.292244 8.648694 7.562006 6.6869575.973139 22 10.201044 9.442425 8.77 1540 7.644646 6.742944 6.011326 23 10.371059 9.5802078.883218 7.718434 6.792056 6.044247 24 10.528758 9.706612 8.984744 7.784316 6.835137 6.072627 25 10.674776 9.822580 9.077040 7.8431396.8729276.097092 26 10.809978 9.928972 9.160945 7.895660 6.906077 6.118183 27 10.935165 10.026580 9.237223 7.942554 6.935155 6.136364 28 11.051078 10.116128 9.306567 7.984423 6.960662 6.152038 29 11.158406 10.198283 9.369606 8.021806 6.983037 6.165550 30 11.257783 10.273654 9.426914 8.055184 7.002664 6.177198 18.0% 0.847458 1.565642 2.174273 2.690062 3.127171 3.497603 3.811528 4.077566 4.303022 4.494086 4.656005 4.793225 4.909513 5.008062 5.091578 5.162354 5.222334 5.273164 5.316241 5.352746 5.383683 5.409901 5.432120 5.450949 5.466906 5.480429 5.491889 5.501601 5.509831 5.516806