Present Value of Bonds Payable; Premium

Moss Co. issued $105,000 of four-year, 12% bonds, with interest payable semiannually, at a market (effective) interest rate of 11%.

Present Value of Bonds Payable; Premium Moss Co. issued $105,000 of four-year, 12% bonds, with interest payable semiannually, at a market (effective) interest rate of 11%. Determine the present value of the bonds payable, using the present value tables in Exhibit 5 and Exhibit 7 Note: Round final answer to the nearest dollar