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Reporting Financial Statement Effects of Bond Transactions On January 1, 2016, Shields, Inc., issued $500,000 of 9%, 20-year bonds for $549,482 yielding a market (yield)

Reporting Financial Statement Effects of Bond Transactions On January 1, 2016, Shields, Inc., issued $500,000 of 9%, 20-year bonds for $549,482 yielding a market (yield) rate of 8%. Semiannual interest is payable on June 30 and December 31 of each vear a. Show computation sto confirm the bond issue price. Round answers to the nearest whole number. Present value of principal repayment Present value of interest payments Selling price of bonds

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