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On January 1, 2021, Anne Teak Furniture issued $100,000 of 8% bonds, dated January 1. Interest is payable semiannually on June 30 and December 31.

On January 1, 2021, Anne Teak Furniture issued $100,000 of 8% bonds, dated January 1. Interest is payable semiannually on June 30 and December 31. The bonds mature in 5 years. The annual market rate for bonds of similar risk and maturity is 10%. What was the issue price of the bonds? (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) rev: 03_12_2020_QC_CS-204461, 07_10_2020_QC_CS-219421 Multiple Choice $89,835. $93,835. $92,278. $128,947.

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