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On January 1, 2023, Sheridan Corp. issued eight-year, 3% bonds with a face value of $636000, with interest payable semi-annually on June 30 and December
On January 1, 2023, Sheridan Corp. issued eight-year, 3% bonds with a face value of $636000, with interest payable semi-annually on June 30 and December 31. The bonds were sold to yield 4%. Table values are: Present value of 1 for 8 periods at 3% 0.789 Present value of 1 for 8 periods at 4% 0.731 Present value of 1 for 16 periods at 1.5% Present value of 1 for 16 periods at 2.00% Present value of annuity for 8 periods at 3% Present value of annuity for 8 periods at 2.00% Present value of annuity for 16 periods at 1.5% Present value of annuity for 16 periods at 2.00% 0.788 0.728 7.020 7.325 14.131 13.578 The issue price of the bonds is $635978. $604677. $592542. O $635746
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