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Save & Exit Scottie Adams Bird Supplies issued 10% bonds, dated January 1, with a face amount of $150,000 on January 1, 2021. The
Save & Exit Scottie Adams Bird Supplies issued 10% bonds, dated January 1, with a face amount of $150,000 on January 1, 2021. The bonds mature in 2031 (10 years). For bonds of similar risk and maturity the market yield is 8%. Interest is paid semiannually on June 30 and December 31. What is the price of the bonds at January 1.2021? Some relevant and irrelevant present value factors: *PV of annuity due of $1: n=20; /-4% is 14.13394 *PV of ordinary annuity of $t: n=20; /-4% is 13.59033 "PV of $1; n=20; /= 4% is 0.45639 Multiple Choice $170,386 $180,088 $272.313
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