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Imai Company issued a $1.200 million bond that matures in five years. The bond has a 9 percent coupon rate. When the bond was issued,
Imai Company issued a $1.200 million bond that matures in five years. The bond has a 9 percent coupon rate. When the bond was issued, the market rate was 4 percent. The bond pays interest twice per year, on June 30 and December 31. Record the issuance of the bond on June 30. Round time value factor to 4 decimal places. Enter your answers in dollars not in millions. Round intermediate and final answers to the nearest whole dollar.
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