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Please, I need answer for everything. Thank youuuu. On January 1, 2020 Crane Co. issued five-year bonds with a face value of $860,000 and a
Please, I need answer for everything. Thank youuuu.
On January 1, 2020 Crane Co. issued five-year bonds with a face value of $860,000 and a stated interest rate of 16% payable semiannually on July 1 and January 1. The bonds were sold to yield 12%. 0.56743 0.47611 0.55839 0.46319 Present value table factors are: Present value of 1 for 5 periods at 12% Present value of 1 for 5 periods at 16% Present value of 1 for 10 periods at 6% Present value of 1 for 10 periods at 8% Present value of an ordinary annuity of 1 for 5 periods at 12% Present value of an ordinary annuity of 1 for 5 periods at 16% Present value of an ordinary annuity of 1 for 10 periods at 6% Present value of an ordinary annuity of 1 for 10 periods at 8% 3.60478 3.27429 736009 6.71008 Click here to view factor tables Calculate the issue price of the bonds. (Round factor values to 5 decimal places, c.8. 1.25124 and final answer to o decimal places, e.g. 458,582.) $ Issue price of bonds Step by Step Solution
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