Mason Co. issued $110,000 of four-year, 12% bonds with interest payable semiannually, at a market (effective) interest rate of 10%.

Determine the present value of the bonds payable, using the present value tables in Exhibit 4and Exhibit 5. Round to the nearest dollar.

EXHIBIT 4 Present Value of $1 at Compound Interest Periods 4% 42% 5% 5y2% 6% 7% 10% 11% 12% 13% 0.96154 0.956940 0.95238 0.94787 0.94340 0.93458 0.90909 0.90090 0.89286 0.88496 0.92456 0.915730 0.90703 0.89845 0.89000 0.87344 0.82645 0.81162 0.79719 0.78315 0.88900 0.876300 0.86384 0.85161 0.83962 0.81630 0.75131 0.73119 0.71178 0.69305 0.85480 0.838560 0.82270 0.80722 0.79209 0.76290 0.68301 0.65873 0.63552 0.61332 0.82193 0.802450 0.78353 0.76513 0.74726 0.71299 0.62092 0.59345 0.56743 0.54276 0.79031 0.767900 0.74622 0.72525 0.70496 0.66634 0.56447 0.53464 0.50663 48032 0.75992 0.734830 0.71068 0.68744. 0.66506. 0.62275 0.51316 0.48166 0.45235 0.42506 0.73069 0.703190 0.67684 0.65160 0.62741 0.58201 0.46651 0.43393 0.40388 0.37616 0.70259 0.672900 0.64461 0.61763 0.59190 0.54393 0.42410 0.39092 0.36061 0.33288 0.67556 0.643930 0.61391 0.58543 0.55839 0.50835 0.38554 0.35218 0.32197 0.29459 10