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On January 1, 2021, Ellison Co. issued eight-year bonds with a face value of $1,000,000 and a stated interest rate of 6%, payable semiannually on
On January 1, 2021, Ellison Co. issued eight-year bonds with a face value of $1,000,000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are: Present value of 1 for 8 periods at 6%. Present value of 1 for 8 periods at 8%... Present value of 1 for 16 periods at 3%.. Present value of 1 for 16 periods at 4%. Present value of annuity for 8 periods at 6%.. Present value of annuity for 8 periods at 8%. Present value of annuity for 16 periods at 3%. Present value of annuity for 16 periods at 4%.. The present value of the interest is a. $344,820 b. $372,600 Oc. $376,830 Od. $349,560 .627 540 .623 534 6.210 5.747 12.561 11.652
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