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Flint Inc. has issued three types of debt on January 1, 2017, the start of the company's fiscal year. (a) $10 million, 9-year, 13% unsecured
Flint Inc. has issued three types of debt on January 1, 2017, the start of the company's fiscal year. (a) $10 million, 9-year, 13% unsecured bonds, Interest payable quarterly. Bonds were priced to yield 10%. (b) $29 milion par of 9-year, zero-coupon bonds at a price to yield 10% per year. (c) $16 milion, 9-year, 8% mortgage bonds, interest payable annually to yield 10%. Prepare a schedule that identifies the following items for each bond: (1) maturity value, (2) number of interest periods over life of bond, (3) stated rate per each interest period, (4) effective-interest rate per each interest period, (5) payment amount per period, and (6) present value of bonds at date of issue. (Round stated and effective rate per period to 2 decimal places, e.g. 10.25%. Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to o decimal places e.g. 58,971.) Unsecured Zero-Coupon Mortgage Bonds Bonds Bonds (1) Maturity value 10000000 29000000 16000000 (2) Number of interest periods (3) Stated rate per period EEP >>- (4) Effective rate per period (5) Payment amount per period 325000 XPAA (6) Present value 8421993 12298900 17999004
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