Question
Please do not show work and answers handwritten, I can not understand it sometimes. Thank you! McWherter Instruments sold $470 million of 10% bonds, dated
Please do not show work and answers handwritten, I can not understand it sometimes. Thank you!
McWherter Instruments sold $470 million of 10% bonds, dated January 1, on January 1, 2016. The bonds mature on December 31, 2035 (20 years). For bonds of similar risk and maturity, the market yield was 12%. Interest is paid semiannually on June 30 and December 31. Blanton Technologies, Inc., purchased $470,000 of the bonds as a long-term investment. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
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