Question
General Co. issued bonds with a face value of $250,000 and a coupon rate of 6% on January 1, 2017. The bonds mature in 15
General Co. issued bonds with a face value of $250,000 and a coupon rate of 6% on January 1, 2017. The bonds mature in 15 years and pay interest semiannually every June 30 and December 31. The market interest rate at the time the bonds were issued was 8%.
What was the issuance price of the bonds on January 1, 2017?
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Auditing Cases An Interactive Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
3rd Edition
0131494910, 9780131494916
