Moss Co. issued $100,000 of four-year, 12% bonds with interest payable semiannually, at a market (effective) interest rate of 11%.

Determine the present value of the bonds payable, using the present value tables in Exhibit 8 and Exhibit 10.

Note: Round to the nearest dollar.

10 Present Value of an Annuity of $1 at Compound Interest Periods 4% 4% 5% 5y496 696 6% 7% 10% 11% 12% 13% 1 0.96154 0.95694 0.95238 0.94787 0.94340 0.93897 0.93458 0.90909 0.90090 0.89286 0.88496 2 1.88609 187267 .85941 1.84632 183339 1.82063 1.80802 73554 .71252 1.69005 166810 2.77509 2.74896 2.72325 2.69793 26730 2.64848 2.62432 2.48685 244371 240183 2.36115 4 3.62990 3.58753 3.54595 3.50515 346511 3.42580 3.38721 3.16987 3.10245 3.03735 2.97447 5 4.45182 4.38998 432948 4.27028 4.21236 4.15568 4.10020 379079 3.69590 3.60478 3.51723 6 5.24214 5.15787 5.07569 4.99553 4.91732 4.84101476654 4.35526 423054 4.114 3.99755 7 6.00205 5.89270 5.78637 5.68297 558238 5.48452 5.38929 4.86842 4.71220 4.56376 442261 8 6.73274 6.59589 6.46321 6.33457 6.20979 6.08875 5.97130 5.33493 5.14612 4.96764 4.79677 43533 7.26879 7.10782 6.95220 680169 6.65610 6.51523 5.75902 553705 5.32825 5.13166 8.11090 7.91272 7.72173 7.53763 7.36009 7.18883 7.02358 6.14457 5.88923 5.65022 5.42624 2 1 2 0 2 2 2 3 2