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Sunland Company issues $24700000, 5%, 5-year bonds dated January 1, 2020 on January 1, 2020. The bonds pay interest semiannually on June 30 and December
Sunland Company issues $24700000, 5%, 5-year bonds dated January 1, 2020 on January 1, 2020. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 4%. What are the proceeds from the bond issue?
| ff | 2.0% | 2.5% | 4% | 5% |
| Present value of a single sum for 5 periods | 0.90573 | 0.88385 | 0.82193 | 0.78353 |
| Present value of a single sum for 10 periods | 0.82035 | 0.78120 | 0.67556 | 0.61391 |
| Present value of an annuity for 5 periods | 4.71346 | 4.64583 | 4.45182 | 4.32948 |
| Present value of an annuity for 10 periods | 8.98259 | 8.75206 | 8.11090 | 7.72173 |
| A. | $24700000 |
| B. | $25797819 |
| C. | $25809394 |
| D. | $25801889 |
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