Question 6 A $500,000, ten-year, 7% bond issue was sold to yield 6% interest payable annually. Actuarial information for 10 periods is as follows: 6% 7% Present value of 1 0.55839 0.50835 PV of ordinary annuity 7.36009 7.02359 PV of annuity due 7.80169 7.51523 What is the amount of cash received at the date of issuance (round to the nearest dollar)? O $511,778 O $552,254 O $500,000 O $517.208 O $536,798 Question 7 2.5 pts On May 1, Legacy Corporation sold $250,000 of its 15%, five-year bonds dated January 1, for 100. The bonds pay interest on June 30 and December 31. {Note the bonds were sold between interest payment dates). How much cash was received? $265.625 $237,500 O $262,500 $287,500 $250,000