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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 $25,000,000 of five-year, 7% bonds,

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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 $25,000,000 of five-year, 7% bonds, with interest payable semiannually at a market (effective) ibarest rate of Determine the present value of the bonds payable, using the present value tables in Exhibit S and Exhibit 7. Round to the nearest dollar

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