eBook Present Value of Bonds Payable; Premium Mass Co. issued $290,000 of five-year, 13% bonds, with interest payable semiannually, at a market (effective) interest rate of 12%. Determine the present value of the bonds payable, using the present value tables in Exhibit 5 and Exhibit 7. Round to the nearest dollar. Exhibit 5 Present Value of $1 at Compound Interest Periods 4% 1 0.96154 41% 0.956940 5% 0.95238 2 0.92456 0.915730 0.90703 3 0.88900 0.876300 0.86384 5%% 0.94787 0.89845 0.85161 10 4569896 0.85480 0.838560 0.82270 0.80722 0.82193 0.802450 0.78353 0.76513 0.79031 0.767900 0.74622 0.72525 7 0.75992 0.734830 0.71068 0.68744 0.73069 0.70259 0.67556 0.703190 0.67684 0.672900 0.64461 0.643930 0.61391 6% 6%% 7% 10% 11% 0.94340 0.93897 0.93458 0.90909 0.90090 0.89286 0.88496 0.89000 0.88166 0.87344 0.82645 0.81162 0.79719 0.78315 0.83962 0.82785 0.81630 0.75131 0.73119 0.71178 0.69305 0.79209 0.77732 0.76290 0.68301 0.65873 0.63552 0.61332 0.74726 0.72988 0.71299 0.62092 0.59345 0.56743 0.54276 0.70496 0.68533 0.66634 0.56447 0.53464 0.50663 0.48032 0.66506 0.64351 0.62275 0.51316 0.48166 0.45235 0.42506 0.65160 0.62741 0.60423 0.58201 0.46651 0.43393 0.40388 0.37616 0.61763 0.59190 0.56735 0.54393 0.42410 0.39092 0.36061 0.33288 0.58543 0.55839 0.53273 0.50835 0.38554 0.35218 0.32197 12% 13% 0.29459 Exhibit 7 Present Value of an Annuity of $1 at Compound Interest Periods 4% 41% 1 0.96154 2 1.88609 3 2.77509 4 3.62990 3.58753 5% 0.95694 0.95238 1.87267 1.85941 2.74896 2.72325 3.54595 5 4.45182 4.38998 4.32948 6 7 10 866 5.24214 5.15787 5.07569 6.00205 5.89270 5.78637 6.73274 6.59589 6.46321 6.33457 9 8.11090 7.91272 7.43533 7.26879 7.10782 7.72173 6.95220 7.53763 5% 6% 6%% 7% 10% 11% 12% 13% 0.94787 0.94340 0.93897 0.93458 0.90909 0.90090 0.89286 0.88496 1.84632 1.83339 1.82063 1.80802 1.73554 1.71252 1.69005 1.66810 2.69793 2.67301 2.64848 2.62432 2.48685 2.44371 2.40183 2.36115 3.50515 3.46511 3.42580 3.38721 3.16987 3.10245 3.03735 2.97447 4.27028 4.21236 4.15568 4.10020 3.79079 3.69590 3.60478 3.51723 4.99553 4.91732 4.84101 4.76654 4.35526 4.23054 4.11141 3.99755 5.68297 5.58238 5.48452 5.38929 4.86842 4.71220 4.56376 4.42261 6.20979 6.08875 5.97130 5.33493 5.14612 4.96764 4.79677 6.80169 6.65610 6.51523 5.75902 5.53705 5.32825 5.13166 7.36009 7.18883 7.02358 6.14457 5.88923 5.65022 5.42624