Please answer two questions below.

Pearl Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of a new plant to meet the increasing demand for the company's bikes. After a careful evaluation of the request, the board of directors has decided to raise funds for the new plant by issuing S3, 021, 900 of 10% term corporate bonds on March 1, 2017, due on March 1, 2032, with interest payable each March 1 and September First interest payment will be made on September 1, 2017. At the time of issuance, the market interest rate for similar financial instruments is 12%. As the controller of the company, determine the selling price of the bonds. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 458, 581.) Selling price of the bonds Vaughn Company owns a trade name that was purchased in an acquisition of McClellan Company. The trade name has a book value of $3, 500, 000, but according to GAAP, it is assessed for impairment on an annual basis. To perform this impairment test, Vaughn must estimate the fair value of the trade name. It has developed the following cash flow estimates related to the trade name based on internal information. Each cash flow estimate reflects Vaughn's estimate of annual cash flows over the next 11 years. The trade name is assumed to have no salvage value after the 11 years. (Assume the cash flows occur at the end of each year.) What is the estimated fair value of the trade name? Vaughn determines that the appropriate discount rate for this estimation is 11%. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 458, 581.) S Estimated fair value