Madison corporation is authorized to issue $500,000 of 5-year bonds dated June 30, year 1, with a stated rate of interest of 11%. Interest on the bonds is payable semiannually, and the bonds are sold on June 30, year 1. Required: Determine the proceeds that the company will receive if it sells the following:

1.) The bonds to yield 12% 2.) The bonds to yield 10%

etermining the Proceeds from Bond Issues Required: 1. The bonds to yield 12% 2. The bonds to yield 10%