Question
Magnolia Corp issued a 5,000,000 bond at 102% on Jan 1, 2020. The bond has 6 years term and pays interest rate 9% annually each
Magnolia Corp issued a 5,000,000 bond at 102% on Jan 1, 2020. The bond has 6 years term and pays interest rate 9% annually each dec 31.
The market rate interest is 7%.
Calculate the bond issue price using present value tables. Show the work
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Financial Accounting For School Administrators Tools For School
Authors: Ronald E. Everett, Donald R. Johnson, Bernard W. Madden
3rd Edition
1610487710, 978-1610487719
