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Riverbed Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of a new plant to meet the increasing
Riverbed Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of a new plant to meet the increasing demand for the companys bikes. After a careful evaluation of the request, the board of directors has decided to raise funds for the new plant by issuing $ of term corporate bonds on March due on March with interest payable each March and September with the first interest payment on September st At the time of issuance, the market interest rate for similar financial instruments is Click here to view factor tables As the controller of the company, determine the selling price of the bonds. Round factor values to decimal places, eg and final answer to decimal places, eg Selling price of the bonds $enter the Selling price of the bonds in dollars rounded to decimal places.
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