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Enviro Company issues 8%, 10-year bonds with a par value of $250,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10%, which implies a selling price of 87.

Confirm that the bonds selling price is approximately correct (within $100). Use present value Table B.1 and Table B.3 in Appendix B. (Round all table values to 4 decimal places, and use the rounded table values in calculations.)

Par Value	x Price	=	Selling Price
	87
Cash Flow	Table Value		Present Value
$250,000 par (maturity) value
$10,000 interest payment
Price of Bond
Difference due to rounding of table values			0