Present value of bonds payable; discount Pinder Co, produces and selts high-quality video equipment, To finance its operations, Pinder issued $23,000,000 of four-year, 8% bonds, with interest payable semiannually, at a market (effective) interest rate of 9%. 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. Open spreadsheet Determine the present value of the bonds payable. Round your answer to the nearest doliar. 5. T Cleck My Work Remember, the seling peice of a bond is the sum of the present values of the tace amount of the bonds due at the maturity date and the periodic intarest to be paid on the bonds. The maket rate of interest is used to compuse the present value of both the face amount and the periodic inserest