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I need help with part b of this question Question 2 On January 1, 20X1, Manan company issued $404,000 of 8-year, 4.6% (annual rate) coupon
I need help with part b of this question
Question 2 On January 1, 20X1, Manan company issued $404,000 of 8-year, 4.6% (annual rate) coupon bonds, with interest of 2.3% to be paid semi-annually on June 30 and December 31. The market interest rate (yield to maturity) on the bond issuance date was 5.2% per year. The company uses a contra-liability account to record and track bond discounts and a liability account to record and track bond premiums. (For your answers below, it is OK to round the numbers to the nearest dollar.) a) Calculate the bond's issue price. (You can use Excel or Google Sheet or a financial calculator.) Bond issue price in dollars): $388,301.92 (Optional) To be eligible for any potential partial grade, show below the input parameters and their values you used for your calculation in Excel/Google Sheet/calculator. need help with part b b) Write the entry to record the bond issuance using the balance sheet equation format: A = L -XL + CC + RE PV = FV/(1+i)^nStep by Step Solution
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