Determining the Proceeds from Bond Issues

Madison Corporation is authorized to issue $$740,000$ of $6-$year bonds dated June $30,2019,$ with a stated rate of interest of $11\%.$ Interest on the bonds is payable semiannually, and the bonds are sold on June $30,2019.$

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.

Open spreadsheet

Required:

Determine the proceeds that the company will receive if it sells the following: Round your answers to two decimal places.

$1.$ The bonds to yield $12\%$ $fill in the blank $2$

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