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Sheridan Corp. issued $555,000 of 10-year, 5% bonds with interest payable semi-annually. How much did Sheridan receive from the sale of these bonds if the

Sheridan Corp. issued $555,000 of 10-year, 5% bonds with interest payable semi-annually. How much did Sheridan receive from the sale of these bonds if the market interest rate was (a) 4%, (b) 5%, and (c) 6%? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to 0 decimal places, e.g. 5,275.) Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1

(a)

4%

$enter a dollar amount rounded to 0 decimal places
(b)

5%

$enter a dollar amount rounded to 0 decimal places
(c)

6%

$enter a dollar amount rounded to 0 decimal places

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