Question
On January 1, 2019, Camerone Corporation issued $2,000,000 of 12-year, 10% bonds at an effective interest rate of 8%. The bonds make a cash interest
On January 1, 2019, Camerone Corporation issued $2,000,000 of 12-year, 10% bonds at an effective interest rate of 8%. The bonds make a cash interest payment each year on December 31. What is the issue price of the bonds on January 1, 2019?
Select one:
a. $2,301,443.12
b. $1,727,452.33
c. $2,000,000.00
d. $2,268,403.26
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Corporate Financial Accounting
Authors: Carl S. Warren, James M. Reeve
9th Edition
0324381921, 978-0324381924
