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On January 1 of this year, Houston Company issued a bond with a face value of $ 1 1 , 5 0 0 and a

On January 1 of this year, Houston Company issued a bond with a face value of $11,500 and a coupon rate of 5 percent. The bond matures in 3 years and pays interest every December 31. When the bond was issued, the annual market rate of interest was 4 percent. Houston uses the effective-interest amortization method. (FV of $1, PV of $1, FVA of $1, and PVA of $1)
Note: Use appropriate factor(s) from the tables provided.
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