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Please be clear, please respond ASAP On November 1, 2017, Yardley Distributors Inc. issued a $750,000,10%, two-year bond. Interest is to be paid semiannually each
Please be clear, please respond ASAP
On November 1, 2017, Yardley Distributors Inc. issued a $750,000,10%, 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 appropriate factor(s) from the tables provided.) Required: a. Calculate the issue price of the bond assuming a market interest rate of 12% on the date of the bond issue. (Do not round intermediate calculations. Round the final answer to the nearest whole dollar.) b. Using the effective interest method, prepare an amortization schedule. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.)Step by Step Solution
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