Question
On November 1, 2020, Robert L. Carroll Paleontology Museum Inc. issued $139,000,000 in 13% bonds, with interest payable on April 30 and October 31
On November 1, 2020, Robert L. Carroll Paleontology Museum Inc. issued $139,000,000 in 13% bonds, with interest payable on April 30 and October 31 each year. The bonds were issued at a price of 107.08 and had a maturity date of April 30, 2040. The interest expense for the first payment on April 30 is $8,967,682. The company's fiscal year end is October 31. (a) Your answer is partially correct. Calculate the cash proceeds from the issuance of these bonds and the yield on the bonds. (Round yield to 2 decimal places, e.g. 1.25%.) Cash Proceeds $Enter a dollar amount. Yield Enter percentages rounded to 2 decimal places. % (
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