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On January 1, 2021, Anne Teak Furniture issued $100,000 of 10% bonds, dated January 1, Interest is payable semiannually on June 30 and December 31.

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On January 1, 2021, Anne Teak Furniture issued $100,000 of 10% bonds, dated January 1, Interest is payable semiannually on June 30 and December 31. The bonds mature in 6 years. The annual market rate for bonds of similar risk and maturity is 12%. What was the issue price of the bonds? (EV. $1. PV of S1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of 51) (Use appropriate factors) from the tables provided.) Multiple Choice $89,013 $94013

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