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On January 1, 2022, Aztec's America issued $1 million 10 year bonds with a stated rate of interest of 10%. The bonds pay interest
On January 1, 2022, Aztec's America issued $1 million 10 year bonds with a stated rate of interest of 10%. The bonds pay interest semi-annualy on January 1st and July 1st. The market rate of interest is 12%. Please determine the (1) issue price of the bonds using the present value tables in the textbook; (2) the interest expense accrual at June 30, 2022; (3) the carrying value of the bonds payable at December 31, 2024. Show all work in your notes and classwork. (ROUND FINAL CALCULATION TO THE NEAREST WHOLE NUMBER). DON'T ROUND INTERMEDIATE STEPS. Multiple Choice $2,000,000 $1,770,602 $1,770,292 $1,852,798
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