Determining the Proceeds from Bond Issues

Madison Corporation is authorized to issue $$800,000$ of $5-$ year bonds dated June $30,$ Year $1,$ with a stated rate of interest of $11\%$Interest on the bonds is payable semiannually, and the bonds are sold on June $30,$ Year $1$

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 $12\%$

$2.$ The bonds to yield $10\%$