Exercise B-12 (Algo) Present value of bonds LO P1, P3 Spiller Corporation plans to issue 12%, 7-year, $540,000 par value bonds payable that pay interest semiannually on June 30 and December 31. The bonds are dated January 1 of the current year and are issued on that date. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round your "Table value" to 4 decimal places and final answers to nearest whole dollar.) If the market rate of interest for the bonds is 10% on the date of issue, what will be the total cash proceeds from the bond issue? Table Values are Based on: Cash Flow Present (maturity) value Interest (annuity) Total cash proceeds n = =! Table Value 14 5% Amount Present Value $ 540,000 $ 270,000