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Present value of bonds payable; discount Pinder Co . produces and sells high - quality video equipment. To finance its operations, Pinder issued $ 2

Present value of bonds payable; discount
Pinder Co. produces and sells high-quality video equipment. To finance its operations, Pinder issued $27,000,000 of 5-year, 7% bonds, with
interest payable semiannually, at a market (effective) interest rate of 10%. This information has been collected in the Microsoft Excel Online file.
Open the spreadsheet, perform the required analysis, and input your answers in the question below.
X
Open spreadsheet
Determine the present value of the bonds payable. Round your answer to the nearest dollar.
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