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May I please have some guidance on the following problem? I'm specifically having trouble confirming whether my calculated coupon price is correct @ $36,790.87, and

May I please have some guidance on the following problem? I'm specifically having trouble confirming whether my calculated coupon price is correct @ $36,790.87, and I cannot figure out how to calculate the Issue Price (PV) as my calculation leads me back to $500,000. Thank you!

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Computing Bond Issue Price and Preparing an Amortization Table in Excel On December 31, 2015, Kaplan, Inc., issues $500,000 of 9% bonds that pay interest semiannually and mature in 10 years (December 31, 2025). a. Using the Excel PV worksheet function, compute the issue price assuming that the bonds' market rate is 8% per year compounded semiannually. (Refer to Appendix A for illustration.) Round answer to two decimal places. Issue price $ b. Prepare an amortization table in Excel to demonstrate the amortization of the book (carrying) value to the $500,000 maturity value at the end of the 20th semiannual period. (Refer to Appendix A for illustration.) The amortization schedule can be completed using the following Excel template: Amortization Schedule Using the figures from the amortization schedule created in Excel, complete the amortization schedule below for 2016 Enter answers using two decimal places. Date Period Beginning balance Payment Interest Premium amortization Premium balance Book value 6/30/16 1 12/31/16 2

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