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TB MC Qu. 14-25 (Algo) Kelly Industries issued... Kelly Industries issued 10% bonds, dated January 1, with a face value of $160,000 on January 1,2021.
TB MC Qu. 14-25 (Algo) Kelly Industries issued... Kelly Industries issued 10% bonds, dated January 1, with a face value of $160,000 on January 1,2021. The bonds mature in 2031 ( 10 years). Interest is paid semiannually on June 30 and December 31 . For bonds of similar risk and maturity the market yield is 11%. What was the issue price of the bonds? FV of $1. PV of $1. FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1 ) (Use appropriate factor(s) from the tables provided.) Multiple Choice \$157,289. $150,440. \$110,843. $95,603
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