Scottie Adams Bird Supplies issued 15% bonds, dated January 1, with a face amount of $250,000 on January 1, 2021. The bonds mature in 2031 (10 years). For bonds of similar risk and maturity the market yield is 14%. 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 = 7% is 11.33559 * PV of ordinary annuity of $1: n = 20; i = 7% is 10.59401 **PV of $1: n = 20; i = 7% is 0.25842

Multiple Choice

• $263,243.

• $291,210.

• $461,881.

• $236,141.