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Please Help and do part a and B (Click the icon to view the Present Value of $1 On January 1, 2018, Mill Incorporated issued
Please Help and do part a and B
(Click the icon to view the Present Value of $1 On January 1, 2018, Mill Incorporated issued $1,510,000 par value, 3%, 7-year bonds (i.e., there were 1,510 of $1,000 par value bonds in the issue). Interest is payable semiannually each January 1 and July 1 with the first interest payment due at the end of the period on July 1. Determine the issue price of the bonds based on a 6% market rate of interest. Prepare the amortization table for the first 2 years assuming that Mill uses the effective interest rate method Clicktheiconto vie the Present Value of an (Click the icon to view the Future (Click the icon to view the Present Value of an Click the icon to view the Future Value of $1 table.) (Click the icon to view the Future Value of an Ordinary Annuity table.) table.) Ordinary Annuity table.) Annuity Due table.) Value of an Annuity Due table.) Determine the issue price of the bonds. (Use the present value and future value tables, the formula method, a financial calculator, or a spreadsheet for your calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, X.Xxxxxx. Round your final answer to the nearest whole dollar.) The issue price of the bonds isS Enter any number in the edit fields and then click Check Answer part remaining Clear All Check Answer Cash Effective Discount/Premium Carrying Date Interest Interest Amortization Value January 1, 2018 July 1, 2018 January 1, 2019 July 1, 2019 January 1, 2020Step by Step Solution
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