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 interest rate of 9%. Determine the present value of the bonds payable, using the present value tables in Exhibit S and Exhibit 7. Round to the nearest dollar. Present Value of $1 at Compound Interest Due Inn Periods Periods 4.0% 4.5% 5% 5.5% 6% 6.5% 7% 1 JN 3 4 5 0.96154 0.92456 0.88900 0.85480 0.82193 0.95694 0.91573 0.87630 0.83856 0.80245 0.95238 0.90703 0.86384 0.82270 0.78353 0.94787 0.89845 0.85161 0.80722 0.76513 0.94340 0.89000 0.83962 0.79209 0.74726 0.93897 0.88166 0.82785 0.77732 0.72988 0.93458 0.87344 0.81630 0.76290 0.71299 6 7 8 9 10 0.79031 0.75992 0.73069 0.70259 0.67556 0.76790 0.73483 0.70319 0.67290 0.64393 0.74622 0.71068 0.67684 0.64461 0.61391 0.72525 0.68744 0.65160 061763 0.58543 0.70496 0.66506 0.62741 0.59190 0.55839 0.68533 0.64351 0.60423 0.56735 0.53273 0.66634 0.62275 0.58201 0.54393 0.50835 11 12 13 14 15 0.64958 0.62460 0.60057 0.57748 0.55526 0.61620 0.58966 0.56427 0.53997 0.51672 0.58468 0.55684 0.53032 0.50507 0.48102 0.55491 0.52598 0.49856 0.47257 0.44793 0.52679 0.49697 0.46884 044230 0.41727 0.50021 0.46968 0.44102 041410 0.38883 0.47509 0.44401 0.41496 0.38782 0.36245 16 17 18 19 20 0.53391 0.51337 0.49363 0.47464 0.45639 0.49447 0.47318 0.45280 0.43330 0.41464 0.45811 0.43630 0.41552 0.39573 0.37689 0.42458 0.40245 0.38147 0.36158 0.34273 0.39365 0.37136 0.35034 0.33051 0.31180 0.36510 0.34281 0.32189 0.30224 0.28380 0.33873 0.31657 0.29586 0.27651 0.25842 21 22 23 24 25 0.43883 0.42196 0.40573 0.39012 0.37512 0.39679 0.37970 0.36335 0.34770 0.33273 0.35894 0.34185 0.32557 0.31007 0.29530 0.32486 0.30793 0.29187 0.27666 0.26223 0.29416 0.27751 0.26180 0.24698 0.23300 0.26648 0.25021 0.23494 0.22060 0.20714 0.24151 0.22571 0.21095 0.19715 0.18425 26 27 28 29 30 0.36069 0.34682 0.33348 0.32065 0.30832 0.31840 0.30469 0.29157 0.27902 0.26700 0.28124 0.26785 0.25509 0.24295 0.23138 0.24856 0.23560 0.22332 0.21168 0.20064 0.21981 0.20737 0.19563 0.18456 0.17411 0.19450 0.18263 0.17148 0.16101 0.15119 0.17220 0.16093 0.15040 0.14056 0.13137 31 32 33 34 35 0.29646 0.28506 0.27409 0.26355 0.25342 0.25550 0.24450 0.23397 0.22390 0.21425 0.22036 0.20987 0.19987 0.19035 0.18129 0.19018 0.18027 0.17087 0.16196 0.15352 0.16425 0.15496 0.14619 0.13791 0.13011 0.14196 0.13329 0.12516 0.11752 0.11035 0.12277 0.11474 0.10723 0.10022 0.09366 40 0.20829 0.17193 0.14205 0.11746 0.09722 0.08054 0.06678 45 0.17120 0.13796 0.11130 0.08988 0.07265 0.05879 0.04761 45 0.17120 0.13796 0.11130 0.08988 0.07265 0.05879 0.04761 50 0.14071 0.11071 0.08720 0.06877 0.05429 0.04291 0.03395 Present Value of $1 at Compound Interest Due in n Periods Periods 8% 9% 10% 11% 12% 13% 14% 1 2 3 4 5 0.92593 0.85734 0.79383 0.73503 0.68058 0.91743 0.84168 0.77218 0.70843 0.64993 0.90909 0.82645 0.75131 0.68301 0.62092 0.90090 0.81162 0.73119 0.65873 0.59345 0.89286 0.79719 0.71178 0.63552 0.56743 0.88496 0.78315 0.69305 0.61332 0.54276 0.87719 0.76947 0.67497 0.59208 0.51937 6 7 8 9 0.63017 0.58349 0.54027 050025 0.46319 0.59627 0.54703 0.50187 0.46043 0.42241 0.56447 0.51316 0.46651 0.42410 0.38554 0.53464 0.48166 0.43393 0.39092 0.35218 0.50663 045235 0.40388 0.36061 0.32197 Q48032 042506 0.37616 0.33288 0.29459 0.45559 0.39964 035056 0.30751 0.26974 10 11 12 13 14 15 0A2888 0.39711 0.36770 0.34046 0.31524 0.38753 0.35553 0.32618 0.29925 0.27454 0.35049 0.31863 0.28966 0.26333 0.23939 031728 0.28584 0.25751 0.23199 0.20900 0.28748 0.25668 0.22917 0.20462 0.18270 0.26070 0.23071 0.20416 0.18068 0.15989 0.23662 0.20756 0.18207 0.15971 0.14010 16 17 18 19 20 0.29189 0.27027 0.25025 0.23171 0.21455 0.25187 0.23107 0.21199 0.19449 0.17843 0.21763 0.19784 0.17986 0.16351 0.14864 0.18829 0.16963 0.15282 0.13768 0.12403 0.16312 0.14564 0.13004 0.11611 0.10367 0.14150 0.12522 0.11081 0.09806 0.08678 0.12289 0.10780 0.09456 0.08295 0.07276 21 22 23 24 25 0.19866 0.18394 0.17032 0.15770 0.14602 0.16370 0.15018 0.13778 0.12640 0.11597 0.13513 0.12285 0.11168 0.10153 0.09230 0.11174 0.10067 0.09069 0.08170 0.07361 0.09256 0.08264 0.07379 0.06588 0.05882 0.07680 0.06796 0.06014 0.05323 0.04710 0.06383 0.05599 0.04911 0.04308 0.03779 26 27 28 29 30 0.13520 0.12519 0.11591 0.10733 0.09938 0.10639 0.09761 0.08955 0.08215 0.07537 0.08391 0.07628 0.06934 0.06304 0.05731 0.06631 0.05974 0.05382 0.04849 0.04368 0.05252 0.04689 0.04187 0.03738 0.03338 0.04168 0.03689 0.03254 0.02889 0.02557 0.03315 0.02908 0.02551 0.02237 0.01963 31 32 33 0.09202 0.08520 0,07889 0.06915 0.06344 0.05820 0.05210 0.04736 0.04306 14 0.03935 0.03545 0.03194 0.02980 0.02661 0.02376 0.02 0.02262 0.02002 0.01772 ASSO 0.01722 0.01510 201325 RONIS 31 32 33 34 35 0.09202 0.08520 0.07889 0.07305 0.06763 0.06915 0.06344 0.05820 0.05339 0.04899 0.05210 0.04736 0.04306 0.03914 0.03558 0.03935 0.03545 0.03194 0.02878 0.02592 0.02980 0.02661 0.02376 0.02121 0.01894 0.02262 0.02002 0.01772 0.01568 0.01388 0.01722 0.01510 0.01325 0.01162 0.01019 40 0.04603 0.03184 0.02209 0.01538 0.01075 0.00753 0.00529 45 0.03133 0.02069 0.01372 0.00913 0.00610 0.00409 0.00275 50 0.02132 0.01345 0.00852 0.00542 0.00346 0.00222 0.00143 Present Value of Ordinary Annuity of $1 per Period Periods 4.096 4.5% 5% 5.3% 69 63% 79 1 2 3 0.96154 1.88609 2.77509 3.62990 445182 0.95694 1.87267 2.74896 3.58753 438998 0.95238 185941 272325 3.54595 432948 0.94787 1.84632 2.69793 3.50515 4.27028 0.94340 1.83339 267301 346511 421236 0.93897 1.82063 2.54848 342580 4.15568 0.93458 1.80802 262432 3:38721 4.10020 5 6 7 8 9 5.24214 6.00205 6.73274 743533 8.11090 5.15787 5.89270 659589 726879 7.91272 5.07569 5.78637 646321 7,10782 772173 4.99553 5.68297 6.33457 6.95220 753763 491732 5.58238 6.20979 6.80169 7.36009 4.84101 SA8452 6.08875 6.65610 7.18883 476654 5.38929 5.97130 651523 7.02358 10 11 12 13 14 15 8.76048 9.38507 9.98565 1056312 11.11839 8.52892 9.11858 9,68285 10.22283 10.73955 8.30641 8.86325 9.39357 9.89854 1037966 8,09254 8.61852 9.11708 9.58965 10.03758 788687 8.38384 B.85268 9.29498 971225 7,68904 8.15873 8.59974 9.01384 9.40267 749867 7.94269 835765 8.74547 9.10791 16 17 18 19 20 11.65230 12.16567 1265930 13.13394 13.59033 11.23402 11.70719 12.15999 12.59329 13.00794 10.83777 11.27407 11.68959 12.08532 12A6221 1046216 10.36461 11.24607 11.60765 11.95038 10.10590 10.47726 10.82760 11.15812 1146992 9.76776 10.11058 1043247 10.73471 11.01851 944665 9.76322 10.05909 1033560 10.59401 21 22 23 24 25 14.02916 14.45112 14.85684 15.24696 15.62208 13.40472 13.78442 14.14777 14.49548 14.82821 12.82115 13.16300 13.48857 13.79864 14.09394 12.27524 12.58317 12.87504 13.15170 1341393 11.76408 12.04158 12.30338 12.55036 12.78336 11.28498 11.53520 11.77014 11.99074 12.19789 10.83553 11.06124 71.27219 11.46933 11.65358 26 27 28 15.98277 16.32959 16.66306 16.98371 1729203 15.14661 15.45130 15.74287 16.02189 16.28889 1437519 14 64303 14.89813 15.14107 1537245 13.66250 13.89810 14.12142 1433310 14 53375 13.00317 13 21053 13.40616 13.59072 1376483 12.39237 12.57500 12.74648 12.90749 1305868 11.82578 11.95671 12.13711 12.27767 12.40904 30 31 32 33 34 35 17.58349 17.87355 18.14765 1841120 18,66461 16.54439 16.78889 1702286 1724676 1746101 15.59281 15 80263 16.00255 16.192.90 1637419 14.72393 14 90420 15.07507 15 23703 15.39055 1392909 14.08404 14.23023 1436814 1449825 13.20063 13.33393 13.45909 13.57661 13.68695 1253181 1264656 12.75379 12.85401 12.94767 40 19.79277 18.40158 17.15509 1604612 1504630 14.14553 13:33171 45 20.72004 19.15635 177 1407 15.45583 14.49023 12 60552 1777407 15.45583 1448023 45 20.72004 19.15635 16.54773 13.60552 19.76201 50 2148218 18.25593 16.93152 1576186 14.72452 13.80075 Present Value of Ordinary Annuity of $1 per Period 89 9% Periods 109 119 12% 13% 149 1 2 3 0.92593 1.78326 2.57710 3.31213 3.99271 0.91743 1.75911 2.53129 3.23972 3.88965 0.90909 1.73554 248685 3.16987 3.79079 0.90090 1.71252 244371 3.10245 3.69590 0.89286 1.69005 240183 3.03735 3.60478 0.88496 1.66810 2.36115 2.97447 351723 0.87719 1.64666 2.32163 2.91371 343308 4 5 8 9 62288 5.20637 5.74664 6.24689 6.71008 448592 5.03295 5.53482 5.99525 6.41766 4.35526 4.86842 5.33493 5.75902 6.14457 4.23054 4.71220 5.14612 5.53705 5.88923 4.11141 456376 4.96764 5.32825 5.65022 3.99755 4.42261 4.79677 5.13166 5.42624 3.88867 4.28830 4.63886 4.94637 5.21612 10 11 12 13 7.13896 7.53608 7.90378 8.22424 8.55948 6.80519 7.16073 748690 7.78615 8,06069 6.49506 6.81369 7.10336 7.36669 7.60609 6.20652 6.49236 6.74987 6.96187 7.19087 5.93770 6.19437 6.42355 6.62817 6.81086 5.68694 5.91765 6.12181 6.30249 6.46238 5A5273 5.66029 5.84236 6.00207 6.14217 14 15 16 17 18 19 20 8.85137 9.12164 9.37189 9,60360 9.81815 8.31256 8.54363 8.75563 8.95011 9.12855 7.82371 8.02155 8.20141 8.36492 8.51356 737916 754879 7.70162 7.83929 7.96333 6.97399 7.11963 724967 7.36578 746944 6.60388 6.72909 6.83991 6.93797 7.02475 6.26506 6.37286 6.46742 6.55037 6,62313 21 22 23 24 25 10.01680 10.20074 10.37106 10.52876 10.67478 9.29224 9.44243 9.58021 9.70661 9.82258 8,64869 8.77154 8.88322 8.98474 9.07704 8.07507 817574 8.26643 834814 8.42174 7.56200 764465 7.71943 7,78432 7.84314 7.10155 7.16951 7.22966 7.28288 7.32998 6.68696 6.74294 6.79206 6.83514 6.87293 26 27 28 29 30 10.80998 10.93516 11.05108 11.15841 11.25778 9.92897 10.02658 10.11613 10.19828 1027365 9.16095 9.23722 9.30657 9.36961 9.42591 848806 8.54780 8.60162 8.65011 8.69379 7.89566 7.94255 7.98442 8.02181 8.05518 7.37167 7.40856 744120 7.47009 749565 6.90608 6.93515 6.96066 6.98304 7.00266 31 32 33 11.34980 11,43500 11.51389 10.34280 10.40624 10.46444 9.47901 9.52638 9.56943 873315 8.76860 880054 8.08499 8.11159 8.13535 7.51828 7453830 7455602 7.01988 7,03498 70482 10.80998 8.48806 7.89566 26 27 6.90608 9.92897 10,02658 10.11613 10.19828 10.93516 11.05108 11.15841 11.25778 7.94255 7.98442 28 29 9.16095 9.23722 9.30657 936961 9.42691 8.54780 8.60162 8.65011 8.69379 7.37167 740856 7.44120 7.47009 7.49565 6.93515 696066 6.98304 7.00266 8.02181 8.05518 30 10.27365 1134980 31 32 33 34 35 10.34280 10.40624 10.46444 10.51784 10.56682 9.47901 9.52638 9.56943 11.43500 11.51389 11.58693 11.65457 8.73315 8.76860 8.80054 8.82932 8.85524 8.08499 8.11159 8.13535 8.15656 8.17550 7.51828 7.53830 7.55602 7.57170 7.58557 7.01988 7,03498 7.04823 7.05985 7.07005 9.60857 9.64416 11.92461 10.75736 40 9.77905 8.95105 8.24378 263438 7,10504 10.88120 9.00791 9.86281 12.10840 7.66086 8.28252 45 7.12322 7.13266 7.67524 8.30450 9.04165 9.91481 10.96168 1223348 50