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Determining the proceeds from Bond Issues Madison Corporation is authorized to issue $840,000 of 7-year bonds dated June 30, 2019, with a stated rate of interest of 11%. Interest on the bonds is payable semiannually, and the bonds are sold on June 30, 2019. Required: Determine the proceeds that the company will receive if it sells the following: (Click here to access the tables to use with this exercise and round your answers to two decimal places, if necessary.) 1. The bonds to yield 12% 809,087.63 X 2. The bonds to yield 10% 872,431.28 X TABLE 4 Present Value of an Ordinary Annuity of 1: POM + 1] n n 3 Present Value of 1: P- (1 + i)" 1.5% 4.0% 4.5% 5.0% 1 0.985222 0.961538 0.956938 0.952381 2 0.970662 0.924556 0.915730 0.907029 3 0.956317 0.888996 0.876297 0.863838 4 0.942184 0.854804 0.838561 0.822702 5 0.928260 0.821927 0.802451 0.783526 6 0.914542 0.790315 0.767896 0.746215 7 0.901027 0.759918 0.734B28 0.710681 B 0.887711 0.730690 0.703185 0.676839 9 0.874592 0.702587 0.672904 0.644609 10 0.861667 0.675564 0.643928 0.613913 11 0.B48933 0.649581 0.616199 0.584679 12 0.836387 0.624597 0.589664 0.556837 13 0.824027 0.600574 0.564272 0.530321 14 0.311849 0.577475 0.539973 0.505068 15 0.799852 0.555265 0.516720 0.481017 16 0.788031 0.533908 0.494469 0458112 17 0.776385 0.513373 0.473176 0436297 18 0.764912 0.493628 0.452800 0415521 19 0.753607 0.474642 0.433302 0.395734 20 0.742470 0.456387 0.414643 0.376889 21 0.731498 0.438834 0.396787 0.358942 22 0.720688 0.421955 0.379701 0.341850 23 0.710037 0.405726 0.363350 0.325571 24 0.699544 0.390121 0.347703 0.310068 25 0.689206 0.375117 0.332731 0.295303 26 0.679021 0.360689 0.318402 0.281241 27 0.668986 0.346817 0.304691 0.267848 2B 0.659099 0.333477 0.291571 0.255094 29 0.649359 0.320651 0.279015 0.242946 30 0.639762 0.308319 0.267000 0.231377 5.5% 6.0% 7.0% 0.947867 0.943396 0.934579 0.898452 0.889996 0.873439 0.85 1614 0.839619 0.816298 0.807217 0.792094 0.762895 0.765134 0.747258 0.712986 0.725246 0.704961 0.666342 0.687437 0.665057 0.622750 0.65 1599 0.627412 0.582012 0.617629 0.591898 0.543934 0.585431 0.558395 0.508349 0.554911 0.526788 0.475093 0.525982 0.496969 0.444012 0.498561 0.468839 0.414964 0.472569 0.442301 0.387817 0.447933 0.417265 0.362446 0.424581 0.393646 0.338735 0.402447 0.371364 0.316574 0.381466 0.350344 0.295864 0.361579 0.330513 0.276508 0.342729 0.311806 0.258419 0.324862 0.294155 0.241513 0.307926 0.277505 0.225713 0.291873 0.261797 0.210947 0.276657 0.246979 0.197147 0.262234 0.232999 0.184249 0.248563 0.219810 0.172195 0.235605 0.207368 0.160930 0.223322 0.1956300.150402 0.211679 0.184557 0.140563 0.200944 0.174110 0.131367 1.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 1 0.985222 0.961538 0.956938 0.952381 0.947867 0.943396 0.934579 2 1.955883 1886095 1.872668 1.859410 1.846320 1.833393 1.808018 3 2912200 2.775091 2.748964 2.723248 2.697933 2673012 2.624316 4 3.854385 3.629995 3.587526 3.545951 3.505150 3.465106 3.387211 54.782645 4451822 4.399977 4.329477 4.270284 4.212364 4.100197 6 5.697187 5.242137 5.157872 5.075692 4.995530 4.917324 4.766540 76.598214 6.002055 5.892701 5.786373 5.682967 5.582381 5.389269 8 7.485925 6.732745 6.595886 6.463213 6.334566 6.209794 5.971299 93.380517 7435332 7.268790 7.107822 6.952195 6.801692 6.515232 109.2221858.110896 7.912718 7.721735 7.537626 7.360087 7.023582 11 10.071118 8.760477 8.528917 8.306414 8.092536 7.886875 7.498674 12 10.907505 9.385074 9.118581 8.863252 8.618518 8.383844 7.942686 13 11.731532 9.985648 9.682852 9.393573 9.117079 8.852683 8.357651 14 12.543382 10.563123 10.222825 9.898641 9.589648 9.294984 8.745468 15 13.343233 11.118387 10.739546 10.379658 10.037581 9.712249 9.107914 16 14.131264 11652296 11.234015 10.837770 10.462162 10.105895 9446649 17 14.907649 12.165669 11.707191 11274066 10.864609 10.477260 9.763223 18 15.672561 12 659297 12 159992 11.689587 11.246074 10.827603 10.059087 19 16.426168 13.13.3939 12.593294 12085321 11.607654 11.158116 10.335595 20 17.168639 13.590326 13.007936 12.462210 11.950382 11.469921 10.594014 21 17.900137 14,029160 13.404724 12.821153 12.275244 11.764077 10.835527 22 18.620824 14451115 13.784425 13.163003 12.583170 12041582 11.061240 23 19.330661 14 856842 14.147775 13.488574 12.875042 12.308379 11 272187 24 20.030405 15 246963 14.495478 13.798642 13.151699 12.550358 11 469334 25 20.719611 15.622080 14.828209 14.093945 13.413933 12.783356 11.653583 26 21.398632 15.982769 15.146611 14.375185 13.662495 13.003166 11.825779 27 22.067617 16.329586 15.451303 14.643034 13.898100 13.210534 11.986709 28 22.726717 16.663063 15.742874 14.998127 14.121422 13.406 164 12.137111 29 23.376076 16.983715 16.021889 15.141074 14.333101 13.590721 12277674 30 24.015838 17.292033 16.288889 15.372451 14.533745 13.764831 12.409041 Table 3 (concluded) Table 4 (concluded) n n 8.0% 9.0% 1 0.925926 0.917431 2 0.857339 0.841680 30.793832 0.772183 4 0.735030 0.708425 5 0.680583 0.649931 6 0.630170 0.596267 7 0.583490 0.547034 8 0.540269 0.501866 90.500249 0.460428 10 0.463193 0422411 11 0.428883 0.387533 12 0.397114 0.355535 13 0.367698 0.326179 14 0.340461 0.299246 15 0.315242 0.274538 16 0.291890 0.251870 17 0.270269 0.231073 18 0.250249 0.211994 19 0.231712 0.194490 20 0.214548 0.178431 21 0.198656 0.163698 22 0.183941 0.150182 23 0.170315 0.137781 24 0.157699 0.126405 25 0.146018 0.115968 26 0.135202 0.106393 27 0.125187 0.097608 28 0.115914 0.089548 29 0.107328 0.082155 300.099377 0.075371 10.0% 12.0% 14.0% 0.909091 0.892857 0.877193 0.826446 0.797194 0.769468 0.751315 0.711780 0.674972 0.683013 0.635518 0.592080 0.620921 0.567427 0.519369 0.564474 0.506631 0.455587 0.513158 0.452349 0.399637 0.466507 0.403883 0.350559 0.424098 0.360610 0.307508 0.385543 0.321973 0.269744 0.350494 0.287476 0.236617 0.318631 0.256675 0.207559 0.289664 0.229174 0.182069 0.263331 0.204620 0.159710 0.239392 0.182696 0.140096 0.217629 0.163122 0.122892 0.197845 0.145644 0.107800 0.179859 0.130040 0.094561 0.163508 0.116107 0.082948 0.148644 0.103667 0.072762 0.135131 0.092560 0.063826 0.122846 0.082643 0.055988 0.111678 0.073788 0.049112 0.101526 0.065882 0.043081 0.092296 0.058823 0.037790 0.083905 0.052521 0.033149 0.076278 0.046894 0.029078 0.069343 0.041869 0.025507 0.063039 0.037383 0.022375 0.057309 0.033378 0.019627 16.0% 18.0% 0.862069 0.847458 0.743163 0.718184 0.640658 0.608631 0.552291 0.515789 0.476113 0.437109 0.410442 0.370432 0.353830 0.313925 0.306025 0.266038 0.262953 0.225456 0.226684 0.191064 0.195417 0.161919 0.168463 0.137220 0.145227 0.116288 0.125195 0.098549 0.107927 0.083516 0.093041 0.070776 0.080207 0.059980 0.069144 0.050830 0.059607 0.043077 0.051385 0.036506 0.044298 0.030937 0.038188 0.026218 0.032920 0.022218 0.028380 0.018829 0.024465 0.015957 0.021091 0.013523 0.018182 0.01 1460 0.015674 0.009712 0.013512 0.008230 0.011648 0.006975 8.0% 90% 10.0% 1 0.925926 0.917431 0.909091 2 1.783265 1.759111 1.735537 3 2.577097 2.531295 2.486852 4 3.312127 3.239720 3.169865 5 3.992710 3.889651 3.790787 6 4.622880 4.485919 4.355261 7 5.206370 5.032953 4.868419 8 5.746639 5.534819 5.334926 96.246888 5.995247 5.759024 10 6.710081 6.417658 6.144567 11 7.138964 6.805191 6.495061 12 7.536078 7.160725 6.813692 137.903776 7.486904 7.103356 14 8.244237 7.786 150 7.366687 15 8.559479 8.060688 7.606080 16 8.851369 8.312558 7.823709 17 9.121638 8.543631 8.021553 18 9.371887 8.755625 8.201712 19 9.603599 8.950115 8.364920 20 9.818147 9.128546 8.513564 21 10.016803 9.292244 8.648694 22 10.201044 9.442425 8.771540 23 10.371059 9.580207 8.883218 24 10.528758 9.706612 8.984744 25 10.674776 9.822580 9.077040 26 10.809978 9.928972 9.160945 27 10.935165 10.026580 9.237223 28 11.05 1078 10.116128 9.306567 29 11.158406 10.198283 9.369606 30 11.257783 10273654 9.426914 12.0% 14.0% 16.0% 18.0% 0.892857 0.877193 0.862069 0.847458 1.690051 1646661 1.605232 1.565642 2401831 2.321632 2.245890 2.174273 3.037349 2.913712 2.798181 2.690062 3.604776 3.433081 3.274294 3.127171 4.111407 3.888668 3.684736 3.497603 4.563757 4.288305 4.038565 3.811528 4.967640 4.638864 4.343591 4.077566 5.328250 4.946372 4.606544 4.303022 5.650223 5216116 4.833227 4.494086 5.937699 5.452733 5.028644 4.656005 6.194374 5.660292 5.197107 4.793225 6.423548 5842362 5.342334 4.909513 6.628168 6.002072 5.467529 5.008062 6,810864 6.142168 5.575456 5.091578 6.973986 6.265060 5.668497 5.162354 7.119630 6.372859 5.748704 5.222334 7.249670 6.467420 5.817848 5.273164 7.365777 6.550369 5.877455 5.316241 7.469444 6.623131 5.928841 5.352746 7.562006 6.686957 5.973139 5.383683 7.644646 6.742944 6.01 1326 5.409901 7.718434 6.792055 6.044247 5.432120 7.784316 6.835137 6.072627 5.450949 7.843139 6.872927 6.097092 5.466906 7.895660 6.906077 6.118183 5.480429 7.942554 6.935155 6.136364 5.491889 7.984423 6.960662 6.152038 5.501601 8.021 806 6.983037 6.165550 5.509831 8.055184 7.002664 6.177198 5.516806
