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; i = 4% is 14.13394 * PV of ordinary annuity of $1: n = 20; i = 4% is 13.59033 **PV of $1: n = 20; i = 4% is 0.45639

Multiple Choice

• $170,386.

• $180,088.

• $272,313.

• $117,042.