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n For 2-3 use the following: The company issues 6% 10-year bonds with a total face amount of $5,000,000 with interest paid semi- annually. The
n For 2-3 use the following: The company issues 6% 10-year bonds with a total face amount of $5,000,000 with interest paid semi- annually. The market rate of interest is 5.9%. % PV PVA 20 3.00% 0.55368 14.8775 20 2.95% 0.55908 14.9465 2. What is the issue price of the bond? $_ round to nearest dollar 3. What is the interest expense for the first interest payment? $_ round to nearest dollar
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