Question
Kingbird Inc. issues $2,119,100 of 11% bonds due in 10 years with interest payable at year-end. The current market rate of interest for bonds of
Kingbird Inc. issues $2,119,100 of 11% bonds due in 10 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 12%.
What amount will Kingbird receive when it issues the bonds? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)
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Fundamentals Of Oil And Gas Accounting
Authors: Rebecca A. Gallun, Ph.D. Wright, Charlotte J, Linda M. Nichols, John W. Stevenson
4th Edition
0878147934, 9780878147939
