On July 1, 2017, Global Satellites Corporation issued $1,280,000 of 10-year, 7% bonds to yield a market interest rate of 6%. The bonds pay semi-annual interest on July 1 and January 1. Global has a December 31 year end. When the bonds were issued, Global received $1,375,221

Your answer is incorrect. Prove the issue proceeds of the bonds on July 1, 2017, by calculating the present value of the bonds at that time. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and final answer to the nearest dollar, e.g. 5,275.) The bonds' present value (issue price) $ eTextbook and Media List of Accounts Attempts: 3 of 10 used