On July 1, 20Y1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $8,500,000 of 5-year, 9% bonds at a market (effective) interest rate of 11%, receiving cash of $7,859,298. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year.

Compute the price of $7,859,298 received for the bonds by using the present value tables in Appendix A. Round your PV values to 5 decimal places and the final answers to the nearest dollar. Your total may vary slightly from the price given due to rounding differences.

Present value of the face amount
Present value of the semiannual interest payments
Price received for the bonds

Present Value of $1 at Compound Interest Due Inn Periods Periods 4.0% 4.59 59 5.5% 69 6.5% 796 1 2 0.96154 0.92456 0.88900 0.85480 0.82193 0.95694 0.91573 0.87630 0.83856 0.80245 0.95238 0.90703 0.86384 3 0.94787 0.89845 0.85161 0.80722 0.76513 0.94340 0.89000 0.83962 0.93897 0.88166 0.82785 0.77732 0.72988 0.93458 0.87344 0.81630 0.76290 0.71299 4 0.82270 0.79209 5 0.78353 0.74726 6 7 0.79031 0.75992 0.73069 0.76790 0.73483 0.70319 0.74622 0.71068 0.67684 0.64461 0.72525 0.68744 0.65160 0.61763 0.70496 0.66506 0.62741 8 0.68533 0.64351 0.60423 0.56735 0.53273 0.66634 0.62275 0.58201 0.54393 0.50835 9 0.70259 0.67290 0.59190 10 0.67556 0.64393 0.61391 0.58543 0.55839 0.58468 11 12 0.61620 0.58966 0.64958 0.62460 0.60057 0.57748 0.55526 0.52679 0.49697 0.46884 13 0.55491 0.52598 0.49856 0.47257 0.44793 0.55684 0.53032 0.50507 0.48102 0.56427 0.47509 0.44401 0.41496 0.38782 0.50021 0.46968 0.44102 0.41410 0.38883 0.44230 14 15 0.53997 0.51672 0.41727 0.36245 16 17 18 19 0.53391 0.51337 0.49363 0.36510 0.34281 0.49447 0.47318 0.45280 0.43330 0.41464 0.45811 0.43630 0.41552 0.39573 0.42458 0.40245 0.38147 0.36158 0.34273 0.39365 0.37136 0.35034 0.33873 0.31657 0.29586 0.32189 0.33051 0.30224 0.47464 0.45639 0.27651 0.25842 20 0.37689 0.31180 0.28380 21 22 23 0.43883 0.42196 0.40573 0.39012 0.39679 0.37970 0.36335 0.34770 0.33273 0.35894 0.34185 0.32557 0.31007 0.32486 0.30793 0.29187 0.27666 0.26223 0.29416 0.27751 0.26180 0.24698 0.26648 0.25021 0.23494 0.24151 0.22571 0.21095 0.19715 0.18425 0.22060 25 0.37512 0.29530 0.23300 0.20714 26 27 28 29 30 0.36069 0.34682 0.33348 0.32065 0.30832 0.31840 0.30469 0.29157 0.27902 0.26700 0.28124 0.26785 0.25509 0.24295 0.23138 0.24856 0.23560 0.22332 0.21168 0.21981 0.20737 0.19563 0.18456 0.19450 0.18263 0.17148 0.16101 0.17220 0.16093 0.15040 0.14056 0.20064 0.17411 0.15119 0.13137 31 0.16425 32 33 34 35 0.29646 0.28506 0.27409 0.26355 0.25342 0.25550 0.24450 0.23397 0.22390 0.21425 0.22036 0.20987 0.19987 0.19035 0.18129 0.19018 0.18027 0.17087 0.16196 0.15352 0.15496 0.14619 0.13791 0.13011 0.14196 0.13329 0.12516 0.11752 0.11035 0.12277 0.11474 0.10723 0.10022 0.09366 40 0.20829 0.17193 0.14205 0.11746 0.09722 0.08054 0.06678 45 0.17120 0.13796 0.11130 0.08988 0.07265 0.05879 0.04761 50 0.14071 0.11071 0.08720 0.06877 0.05429 0.04291 0.03395 Present Value of $1 at Compound Interest Due in n Periods Periods 8% 9% 10% 11% 12% 13% 14% 0.92593 0.91743 0.90909 0.90090 0.89286 0.88496 0.87719 2 0.85734 0.82645 0.81162 0.79719 0.78315 0.76947 3 0.79383 0.75131 0.73119 0.71178 0.69305 0.67497 0.84168 0.77218 0.70843 0.64993 4 0.73503 0.68301 0.63552 0.65873 0.59345 0.61332 0.54276 0.59208 0.51937 5 0.68058 0.62092 0.56743 0.63017 0.59627 0.53464 0.50663 0.45559 0.56447 0.51316 0.58349 0.54703 0.48166 0.45235 0.39964 0.54027 0.50187 0.46651 0.40388 0.48032 0.42506 0.37616 0.33288 0.29459 0.35056 0.30751 0.50025 0.43393 0.39092 0.35218 0.46043 0.42410 0.36061 0.46319 0.42241 0.38554 0.32197 0.26974 11 0.38753 0.35049 0.31728 0.28748 0.23662 0.42888 0.39711 0.26070 0.23071 12 0.35553 0.28584 0.25668 13 0.36770 0.22917 0.20416 0.31863 0.28966 0.26333 0.23939 0.32618 0.29925 0.27454 14 0.20756 0.18207 0.15971 0.14010 0.34046 0.25751 0.23199 0.20900 0.18068 0.20462 0.18270 0.31524 0.15989 16 0.29189 0.25187 0.21763 0.18829 0.16312 0.14150 0.12289 0.10780 17 0.27027 0.19784 0.16963 0.14564 0.12522 CUP o o o J ms 0.23107 0.21199 18 0.25025 0.17986 0.13004 0.11081 0.09456 0.15282 0.13768 19 0.23171 0.19449 0.11611 0.09806 0.16351 0.14864 0.08295 0.07276 20 0.21455 0.17843 0.12403 0.10367 0.08678 21 0.19866 0.16370 0.13513 0.11174 0.09256 0.07680 0.06383 22 0.18394 0.15018 0.12285 0.10067 0.06796 0.05599 23 0.17032 0.13778 0.11168 0,09069 0.08264 0.07379 0.06588 0,06014 0.04911 0.04308 24 0.15770 0.12640 0.10153 0.08170 0.05323 25 0.14602 0.11597 0.09230 0.07361 0.05882 0.04710 0.03779 26 0.10639 0.08391 0.06631 0.04168 0.03315 0.13520 0.12519 27 0.07628 0.05974 0.05252 0.04689 0.04187 0.09761 0.08955 0.03689 28 0.11591 0.06934 0.05382 0.03264 0.02908 0.02551 0.02237 29 0.10733 0.08215 0.06304 0.04849 0.03738 0.02889 30 0.09938 0.07537 0.05731 0.04368 0.03338 0.02557 0.01963 31 0.09202 0.05210 0.03935 0.02980 0.02262 0.01722 0.06915 0.06344 32 0.08520 0.04736 0.02661 0.02002 0.01510 0.03545 0.03194 33 0.07889 0.05820 0.04306 0.02376 0.01772 0.01325 34 0.07305 0.05339 0.03914 0.02878 0.02121 0.01162 0.01568 0.01388 35 0.06763 0.04899 0.03558 0.02592 0.01894 0.01019 40 0.04603 0.03184 0.02209 0.01538 0.01075 0.00753 0.00529 45 0.03133 0.02069 0.01372 0.00913 0.00610 0.00409 0.00275 50 0.02132 0.01345 0.00852 0.00542 0.00346 0.00222 0.00143 Present Value of Ordinary Annuity of $1 per Period Periods 4.096 4.5% 596 5.5% 6% 6.59 7% 1 0.96154 0.93458 0.95694 1.87267 2 1.88609 0.95238 1.85941 2.72325 0.94787 1.84632 2.69793 0.94340 1.83339 2.67301 3.46511 0.93897 1.82063 2.64848 1.80802 3 2.77509 2.74896 262432 3.38721 4 3.62990 3.58753 3.54595 3.50515 3.42580 5 4.45182 4.38998 4.32948 4.27028 4.21236 4.15568 4.10020 6 5.24214 5.15787 5.07569 4.99553 4.91732 4.84101 7 6.00205 5.89270 5.68297 5.58238 5.48452 6.08875 4.76654 5.38929 5.97130 6.51523 8 6.73274 6.59589 6.33457 5.78637 6.46321 7.10782 7.72173 6.20979 9 7.43533 7.26879 6.80169 6.65610 6.95220 753763 10 8.11090 7.91272 7.36009 7.18883 7.02358 11 7.88687 7.49867 8.76048 9.38507 9.98565 8.52892 9.11858 8.30641 8.86325 8.09254 8.61852 12 8.38384 7.94269 13 9.68285 9.11708 8.85268 7.68904 8.15873 8.59974 9.01384 9.40267 8.35765 14 10.56312 9.39357 9.89864 10.37966 9.58965 10.22283 10.73955 8.74547 9.29498 9.71225 15 11.11839 10.03758 9.10791 16 11.65230 11.23402 10.83777 10.46216 10.10590 9.44665 9.76776 10.11058 17 12.16567 11.70719 11.27407 10.86461 1047726 9.76322 12.65930 11.68959 10.43247 10.05909 12.15999 12.59329 10.82760 11.15812 19 13.13394 11.24607 11.60765 11.95038 10.73471 12.08532 12 46221 10.33560 20 13.59033 13.00794 11.46992 11.01851 10.59401 21 14.02916 12.82115 12.27524 11.28498 10.83553 13.40472 13.78442 11.76408 12.04158 14.45112 12.58317 11.53520 11.06124 13.16300 13 48857 14.85684 14.14777 12.87504 12.30338 11.77014 11.27219 15.24696 14.49548 12.55036 11.99074 11.46933 13.79864 14.09394 13.15170 13.41393 15.62208 14.82821 12.78336 12.19788 11.65358 26 13.00317 12.39237 15.98277 16.32959 15.14661 15.45130 15.74287 13.66250 13.89810 27 13.21053 12.57500 11.82578 11.98671 12.13711 12.27767 28 14.37519 14.64303 14.89813 15.14107 15.37245 16,66306 14.12142 13.40616 12.74648 29 16.98371 16.02189 14.33310 13.59072 12.90749 30 17.29203 16.28889 14.53375 13.76483 13.05868 12.40904 31 17.58849 16.54439 15.59281 14.72393 13.92909 13.20063 12.53181 32 17.87355 16.78889 15.80268 14.08404 13.33393 12.64656 33 18.14765 17.02286 16.00255 13.45909 14.90420 15.07507 15.23703 15.39055 14.23023 14.36814 34 18.41120 13.57661 17.24676 17.46101 16.19290 16.37419 12.75379 12.85401 12.94767 35 18.66461 1449825 13.68696 40 19.79277 18.40158 17.15909 16,04612 15.04630 14.14553 13.33171 45 20.72004 19.15635 17.77407 16.54773 15.45583 14.48023 13.60552 50 21.48218 19.76201 18.25593 16.93152 15.76186 14.72452 13.80075 Present Value of Ordinary Annuity of $1 per Period Periods 8% 99% 10% 11% 12% 13% 14% 1 0.92593 0.91743 0.90909 0.90090 0.89286 0.88496 0.87719 2 1.78326 1.73554 1.71252 1.69005 1.64666 1.75911 2.53129 1.66810 2.36115 2.57710 2.48685 2.44371 2.40183 2.32163 4 3.31213 3.23972 3.16987 3.10245 2.91371 3.03735 3.60478 2.97447 3.51723 5 3.99271 3.88965 3.79079 3.69590 3.43308 6 4.62288 4.48592 4.11141 3.99755 3.88867 4.35526 4.86842 4.23054 4.71220 7 5.20637 5.03295 4.56376 4.42261 4.28830 8 5.74664 5.33493 5.14612 4.96764 4.79677 4.63886 5.53482 5.99525 9 6.24689 5.53705 5.32825 4.94637 5.75902 6.14457 5.13166 5.42624 10 6.71008 6.41766 5.88923 5.65022 5.21612 11 7.13896 6.80519 6.49506 6.20652 5.93770 5.45273 5.68694 5.91765 12 7.53608 7.16073 6.81369 6.49236 6.19437 5.66029 13 7.90378 7.10336 6.74987 6.42355 6.12181 5.84236 7.48690 7.78615 14 8.22424 7.36669 6.96187 6.62817 6.30249 6.00207 15 8.55948 8.06069 7.60608 7.19087 6.81086 6.46238 6.14217 16 8.85137 8.31256 7.82371 7.37916 6.97399 6.60388 6.26506 17 9.12164 8.54363 8.02155 7.54879 7.11963 6.72909 6.37286 18 9.37189 8.75563 8.20141 7.24967 6.83991 6.46742 19 8.95011 9.60360 9.81815 7.36578 7.70162 7.83929 7.96333 8.36492 8.51356 6.93797 7.02475 6.55037 6.62313 20 9.12855 7.46944 21 10.01680 9.29224 8.64869 8.07507 7.56200 7.10155 6.68696 22 9.44243 8.17574 7.64465 6.74294 10.20074 10.37106 7.16951 7.22966 23 9.58021 8.26643 7.71843 8.77154 8.88322 8.98474 9.07704 6.79206 6.83514 24 10.52876 9.70661 8.34814 7.78432 7.28288 25 10.67478 9.82258 8.42174 7.84314 7.32998 6.87293 26 10.80998 9.16095 8.48806 7.89566 27 10.93516 9.23722 8.54780 7.94255 9.92897 10.02658 10.11613 10.19828 7.37167 7.40856 7.44120 6.90608 6.93515 6.96066 6.98304 28 11.05108 9.30657 7.98442 8.60162 8.65011 29 11.15841 9.36961 7.47009 8.02181 8.05518 30 11.25778 10.27365 9.42691 8.69379 7.49565 7.00266 31 11.34980 9.47901 8.73315 8.08499 7.51828 7.01988 32 11.43500 8.76860 8.11159 7.53830 7.03498 9.52638 9.56943 33 10.34280 10.40624 10.46444 10.51784 10.56682 1151389 8.80054 8.13535 7.55602 7.04823 34 9.60857 8.82932 8.15656 7.57170 7.05985 11.58693 11.65457 35 9.64416 8.85524 8.17550 7.58557 7.07005 40 11.92461 10.75736 9.77905 8.95105 8.24378 7.63438 7.10504 45 12.10840 10.88120 9.86281 9.00791 8.28252 7.66086 7.12322 50 12.23348 10.96168 9.91481 9.04165 8.30450 7.67524 7.13266