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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 $26,000,000 of four year, 8%

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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 $26,000,000 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. X BER Open spreadsheet Determine the present value of the bonds payable. Round your answer to the nearest dollar. $

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