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Everhart Company issues $20,000,000, 6%, 5-year bonds dated January 1, 2014 on January 1, 2014. The bonds pays interest semiannually on June 30 and December
Everhart Company issues $20,000,000, 6%, 5-year bonds dated January 1, 2014 on January 1, 2014. The bonds pays interest semiannually on June 30 and December 31. The bonds are issued to yield 5%. What are the proceeds from the bond issue?
| 2.50% | 3.00% | 5.00% | 6.00% | |
| Present Value of a single sum for 5 periods | 0.88385 | 0.86261 | 0.78353 | 0.74726 |
| Present Value of a single sum for 10 periods | 0.7812 | 0.74409 | 0.61391 | 0.55839 |
| Presesnt Value of an annuity for 5 periods | 4.64583 | 4.57971 | 4.32948 | 4.21236 |
| Present Value of an annuity for 1o periods | 8.75206 | 8.5302 | 7.72173 | 7.36009 |
A. $20,875,236
B. $20,869,232
C. $20,000,000
D. $20,865,976
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