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Kelly Industries issued 8% bonds, dated January 1 , with a face value of $120,000 on January 1, 2021. The bonds mature in 2031 (
Kelly Industries issued 8% bonds, dated January 1 , with a face value of $120,000 on January 1, 2021. The bonds mature in 2031 ( 10 years). Interest is paid semiannually on June 30 and December 31. For bonds of similar risk and maturity the market yield is 9%. What was the issue price of the bonds? FV of \$1, PV of \$1, FVA of \$1. PVA of \$1, FVAD of $1 and PVAD of \$1) (Use appropriate factor(s) from the tables provided.) Multiple Choice $62.438. $87,791. $112,195 $118,021
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