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tables: Hartford Research issues bonds dated January 1 that pay interest semiannually on June 30 and December 31. The bonds have a $38.000 par value
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Hartford Research issues bonds dated January 1 that pay interest semiannually on June 30 and December 31. The bonds have a $38.000 par value and an annual contract rate of 10%, and they mature in 10 years. Table B1, Table B2 Table B.3, and Table BA (Use appropriate factor(s) from the tables provlded. Round all table values to 4 declmal places, and use the rounded toble velues In calculatlons. Round your "Present Value" answers to the nearest whole doller amount.) Requlrec: Consider each of the following three separate situations. I. The market rate at the date of issuance is 896. (a) Complete the below table to determine the bonds' issue price on January 1. (b) Prepare the journal entry to record their issuance. 2. The market rate at the date of issuance is 10%. (a) Complete the below table to determine the bonds' issue price on January 1. (b) Prepare the journal entry to record their issuance. 3. The market rate at the date of issuance is 12%. (a) Complete the below table to determine the bonds' issue price on January 1. (b) Prepare the journal entry to record their issuance. Complete this question by entering your answers in the tabs belowStep by Step Solution
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