On January 1, 2020, Marko Enterprises issued 10% bonds dated January 1 with a face amount of $10,000,000. The bonds will mature in 2029 (10 years later). Bonds of similar maturity and risk are yielding a market rate of 12%. Interest is paid semiannually, on June 30 and December 31. Based on the above information and using the present value tables provided in the Resources Tab, determine the issue price of bonds on January 1, 2020. For cells B1, enter the proper amount from the information above. For cells B2 and B3, compute the results. For cells B4 and B5, select the proper factor from the information contained on the Resources Tab. For cells B6, B7, and B8, click in the shaded cell and select the appropriate formula from the list provided.

On January 1, 2020, Marko Enterprises issued 10% bonds dated January 1 with a face amount of $10,000,000. The bonds will mature in 2029 (10 years later). Bonds of similar maturity and risk are yielding a market rate of 12%. Interest is paid semiannually, on June 30 and December 31. Based on the above information and using the present value tables provided in the Resources Tab, determine the issue price of bonds on January 1, 2020. For cells B1, enter the proper amount from the information above. For cells B2 and B3, compute the results. For cells B4 and B5, select the proper factor from the information contained on the Resources Tab. For cells B6, B7, and B8, click in the shaded cell and select the appropriate formula from the list provided. A B 1 Principal amount of bonds 2 Annual interest payments 3 Semi-annual interest payments 4 Factor for Lump Sum 5 Factor for Annuity 6 Present Value of Interest 7 Present Value of Principal 00 Issue Price