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Presley Company sells $1,000,000 general obligation bonds for 102. The interest rate on the bonds, paid quarterly, is 5 percent. a. Calculate the amount that

Presley Company sells $1,000,000 general obligation bonds for 102. The interest rate on the bonds, paid quarterly, is 5 percent.

a.
Calculate the amount that the company will actually receive from the sale of the bonds.

Amount Received: ????

b.
Calculate the amount of both the quarterly and the total annual cash interest that the company will be required to pay.

Quarterly Cash Interest: ????

Annual Cash Interest: ?????

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