Question
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 three-year, 8% bonds,
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 three-year, 8% bonds, with interest payable semiannually, at a market (effective) interest rate of 10%.
Determine the present value of the bonds payable. Round your answer to the nearest dollar.
$ _____________
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Ressourceneffizientes Wirtschaften
Authors: Heinz Karl Prammer
2nd Edition
3658046082, 9783658046088
