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On November 1, 2023, Yardley Distributors Inc. issued a $754,000,6%, two-year bond. Interest is to be paid semiannually each May 1 and November 1. (Use
On November 1, 2023, Yardley Distributors Inc. issued a $754,000,6%, two-year bond. Interest is to be paid semiannually each May 1 and November 1. (Use TABLE 14A.1 and TABLE 14A.2). Note: Use table values for PV calculations. (Use approprlate foctor(s) from the tables provlded.) Requlred: a. Calculate the issue price of the bond assuming a market interest rate of 8% on the date of the bond issue. (Do not round Intermedlete caleulatlons. Round the final answer to the nearest whole dollor. Enter all the amounts as positive values.) b. Using the effective interest method, prepare an amortization schedule. (Do not round Intermedlete calculations. Round the flnal answers to the nearest whole doller. Enter all the amounts as positive values.)
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