*this answer is not correct
On January 1, 2021, Shirley Corporation purchased 12% bonds dated January 1, 2021, with a face amount of $16 million. The bonds mature in 2033 (10 years). For bonds of similar risk and maturity, the market yield is 15%. Interest is paid semiannually on June 30 and December 31. (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.) Required: Determine the price of the bonds at January 1, 2021. (Enter your answer in whole dollars.) Price of the bonds 8,840,022 TABLE 1 Future Value of $1 FV-51(1+0) 7.0% 110% 12.09 20.04 120000 1.045 15 2.05 2.5% 3.09 3.5% 4,096 4546 5.04 559 1101000 101500 102000 10200 103000 103500 1.04000 104500 105000 105500 21020101 05022 101010 1.05063 1 06090 1.07123108100109203 10250 111303 1109030 104568 106121 107689 109273 110872 112486 1.14117 115763 117424 + 104060 106136 1010 LO 112551 114752 110986 119252121551 123682 5105101 107728 1.10108 113141 115927 118769 121665 124615 127625 1.30096 112000 6.09 100000 112360 1 19102 126245 107000 114490 12540 144000 1.08000 116610 125971 116019 19 10.04 109000 1 10000 118810121000 119505 133100 141158 146110 153862 1 61051 1.22504 131080 1.40355 111000 123210 1 36763 151807 1.68506 172000 140193 157152 176244 207560 218832 296598 6106153 1.093 12616 115909 1908 1.22926 136532 110226 134010 137884 141552 7 107214 1.10934 114800 113508122987127228 131993 1.36086 140710 145001 150161 #100716 117649 117166 12180176677131011 130857 142210 147746 1540 159355 9. 1099 1143 119509134886 130471 136290 142331 148610 155133161909 100 10 110162 116054 121899 121008134192 1.41000 1480M 155297 16209 170814 1.79035 150073 158612 67710 1.60578 17130 112004 171819 165003 199256 13546 1.900 217189 196715 21592 216716 1.77196 1.7041 1.94872 207616 321001 21059 230454 24758 235795 255804 2.7715 2:59374 283942 1103 4292 5.15970 19124 147855 233104 2.3181 11111567 11795124137 1312091323 1499 153945 165 170 180009 11980 12 1126 11952 1624 1419 143576 151107 16010) 193 119 120121 200230 1 111009 121355 293611751 146653 156 164507 177230 13 20017 213293 14 114947 123130 131046 141297151230 16180 1731 183194 1993 211400 326090 15 11600 1250234567144610 155797 167535 15000 1.938 20793 224 23656 21045 225219 2.40935 23755) 27503 254 2012 11511 2014 3.13543 349545 200145227 1126 31417 3.192503104 3668 417723 47869 1849 74100 91010 10.99 12 1540701 2.93719 71 295216 16 1725 126 1727 145 160471 1799 187298202237 2.16237 235536 254015 17 11110121802140924 152162 165285 1768 170 2.11338 22202 2.40480 369277 I 1905 190744 147 156 170240187 200542 220044 2.40042 207147 19120011132095143965 175351 192250 2.10615 2.30786 2.2005 2.70545303500 20133019 1.16M 143595 16186210011 1909219112 241171205390 291776 320714 137993 3616 34059497031 45019331009615039 170002 412703 305417 39509 66604 1920241713 65435499 431570 5.14166 631591 4660 3.60472750 2016 23181 2662333 300 ICE 133719 1670613167 1698 1609705943227677257094 2.630721119956 414056 5011 61051 740033 R 100 460052 25 100 14500 161061159420970236124 1005643.00543 335 331339 429117 5.42741 14848 62301101471 133831700000 50 1.75 1563081101757 242726 2.10479 3340732 433194 40119 761236 100530 113043309592 23217631 401811402.3.2014 2010 130039976430102 531616 70399 8513311021572 446 117343 110100001 03 050) 100 00000 SOPROCTOLOGISCHES Ho OS COOL SCHOOG OSSO O COTID T I TOTS or C S POLY LOCATEGIC FOTOS DO COZOSO COMO HALDS 0000000000 SOT DO 40 DOSTOSO COSTICO 100 OESO 1050 W TO THE STUDERDOTO ZO ZIED TO A OD 200 storo HOUSTOSOWO OLEO 001 DO 10CCO ECCO O O XO FEW T wo T TSIVE VEDE UNCO SELESS WILWCH I 3001195 000 629 6102203530650237 045 044 03 03110030021835 014 0101010 15 X 6.3361 0633530570 52016 0464 41330 331 33051 023853 023171 0.19000 1435 213388 at DO PO010 ERST TOUCO scostoreo HOT DESSIVO OUESYO NOORSO caso 1000 100 OD O 01709307416 0467040502 0.35720 05153707311 4340 040245 078 03101707707707807019744 001564 00101 16.703 673345 073022317 0.5767153901 0.4047 0.45 0.43453 39305 0.33872311 251 0.3114 11:29 101 16 OCOROC COTO BOOSTCO soro zonovo TAOTSO SESSO MO HINO HOW TOCHLOSSO 1901 RUOD ERRO to ES suto o o ESTE LOOK GESO BESO 290 211900 BLOCO RESEO SEO OH HOLZO ILO O TICO OLLO HO 100 OSO OSO 950 250090 000 SONDENSELO OLLO COCO CU 120175 0.256 07:50) 0.74%50 0.70128 000171 06346008866055664 $200.00097 0.4401 03071 0355556620554 02166 011216 10.55433 6.4893 0.500 0.78214 72342 2.6549 048 041630 5346854530 150 43388 38753 354 031733 273 15459 10 0901205167 00035 0.73120 0.14409 0.70192 0.67556 0.049)0019 05854) 055839 3063 0.4319 0034 03855403521032197 016151 10000 Otroscoop 60 061850 1949 1990 OGLEDO SOCO SELO the Cook OO KYI60 SEO SEO S60000 4200 LORSD DOSSO IME 001590999200 TOO COORLO MALO TRD SCORSO LZW18261 BOCCO SECO 999 DESO COUSO SO SZCYO 00599060901001C LOTUSCO 6610 SED LEO 90 0100 COL 94205091454 3877 0.4230 0.83743 0.31350 6.79031 0.76700 2.74622 0.73535 6.70 6.6665443019 0.697 054 053464 0.06 0.33% 5 09587 0.92136 05057) 088385 030261 014197 0.92193 00345 0.78353 0.7651) ON726 091290880580619916207205936505670 4111 SCHOSSO C001000 DOLOROSO 200 ECO TELONO TESOROS 0 6060 SPIEGO DO 3000 OLSO BILO HICCO TESCO O COCO ODIO COUTO TOISEO OO OCOLE COSEXO 1060 15160 G 2260 TEOSED WOLD 90 O SHOO 0 MENO 000630 60 FOLOSO 1606 160 090166 DOLGO COMO TO 420.000 COOCOO SECO HED HOO 150 15151960119960230460 195460 6060 266 061 so Soor Nos 12 9.09 3.01 7701 53% 404 1.54 3046 2548 134 1046 (1+1 PV TABLE 2. Present Value of 51 15 TABLE 3 Future Value of an ordinary Annuity of $1 (1+- 1 FVA= 7 2016 5.01 7.04 9.09 10.04. 11.04 12.09 20.04 10% 13 1 10000 10000 12010020750 3 30301 30452 4 40001 40909 5 51010 5.1523 6.04 10000 20600 10000 2.596 3.04 4.09 10000 10000 10000 10000 20250 20300 2.0350 20100 3.0909 3.1002 3.1216 4152541836 42149 42465 52563 53091 536255416) 455 10000 20450 11370 4213 5:4707 10000 20900 1.0000 20200 30604 41216 52040 10000 1000 8.04 10000 20800 3244 45001 10000 20500 3.1525 43101 10000 21:00 10000 22000 30756 1050 23 0975 18196147204094 1141332236334144244997 256454 19 20110821767 32666215400 15.110921572276712 3022019 21 123) 2297425547 26 1704 21279 27781 2.7417 260551 25.6725 3129 309057 27.5551 301402 337503 13.99903742503 373790 4140 409955 45.7070 33.0034 359497 369737 1054 41.300 4553 46015551 1591 51601 3.1300 44500 50 1959 251404 281324 105190 13.0660 105 9105 121167 55.709 49 ZLOTTE CONTE 1543400 313714 343 OSE 21 23.1392247516733 271833 15.6705 30.2695 31.92 35.7193 39.7861 10.9923 14.00 12.3051 S16 1050 30 4719 17187 401611439077 475754 51 072) 56.0049 610071664352 724555 90 M4601 133 136 307 401991110 114167900.000 75013 34550390307 0903 1207991116056154030199615359056931076701 7H sunting/spiceland_int_10e/table_4.png TABLE4 Present Value of an ordinary Annuity of $1 1 PVA ! 3.05 3.55 4,096 55 0.04 7.09 1 091087 096154 0.91455 1.046 099010 197046 294099 390197 1.59 2.09 09652 0900 1.95588 194156 291220 208333 385433 3.50773 475264 471346 2.54 097561 19274 215003 3.76197 464553 191347 2.32861 1 80502 1 090618 1.89969 280161 367308 451505 4.5% 095094 0.93 1 87267 115941 274396 2.72323 3.58753 3.54595 35995 432945 135609 2.77509 362990 445112 0.9477 0.94340 134632 LR1339 269799 2.67301 350515346511 427028 421236 09 9.04 10.09 110 1204 20.04 093593 091743 090909090090 096 023333 17626 175911173554 71252 169005 152776 257710 253129245685244171 24018) 210645 33121323972316987110243703735 2557 199271 13596579079 369590 760474 299001 + 3.71710 457971 338721 4.10020 0 $ 60145 S.S0813 $32555 3.07569 49955 7 5.24214 600205 611454 5.08297 579548 5.69719 6.72819 659021 16516874591 56603 136052 9.47150 93210 7.32545 717014 5.41719 621011 701909 7.76011 153020 6.87396 6.71274 515737 589270 559589 726579 791272 4.91733 4.76654 5582311929 520617 620979 597110574664 650169 651323 64689 736009 702356 6.71000 571632 646311 7.1073 7.72173 6 448591 435536 433054 411141 312551 3.0129504712304567160459 5.3302533493 5.14612496764 1716 5995335759025537055354030 6.41766610157 58 565002419317 797087 639457 695230 753763 10 760109 11661 743533 11000 375200 196359 11 10.36763 10.07112 9,7165.5141 0.00155 3.76048 52802 8.30641 1094 7.55687 749107 121125508 1090751 1057514 10 25776 995000 960313 91107111581035861652838354 7940 11121374 11.73153 11.4837 1098319 106304 10.30214 9.95596599357911708 15360 15765 14 1100370 12:54331 1210025 11 6900 119607 109302 1036312 10 23283.6495965 9.219674547 15 11605 1334123 121926 12.000 11937941151741 11 11 10.7395 10.10075 97133510791 7.3 & SOSIO 6.49566067 07042706 753500 76073 61 84933661441749 790787486907101366715253363 3434 7715 716 691178 617 61037 3559100 7000071908761105847547 16 14.71787 1613136 1357771 13 11110 12.0113 11.630 11.2.5403 10477 10:40118 10.10510 9.4661 327823413916 7100 7209 1 155625 1490% 1439181 131220 13766121265132 13105671170719 11200101010110.47776 976373 1214602155 78971113461 11 1630077 15.07250 1490 143336 1375551 18 126503012159 1169 114001 101100100161014171 19 11011042017 1367146 147 1433380 1370164 1111113399 1201211.607651111 10110000 201504555 1716864 365145 15.50916 H8747101140 150013110074 12.4021111950581 1950 *3101 13355316790138 11 ISSN 1014 100 161955 143 1440707 H202936 13.40 10111 11134 11.10 10 100102334 T 1000 152016207150119 341641741) 10:40111 110 110 11401911 1924 10711977134015230901 190004 IR 17230 161 1574453 17048301131710010 109 110 11111111111101197977 11 09 101011101111110110 TABLE S Future Value of an Annuity Due of $1 FVAD x (1) [4+9P+4 ] SOS 1 6.09 7045 9.04 10.04 5348 10550 110 1204 20.04 10000 2 10700 10500 21525 10000 11100 1. 1.544 10100 10150 10300 20301 204522.0001 3.0004 00 31216 41010 152 2010 31530 5229653051 11200 2394 3.04 3596 4096 10250 10300 10350 10100 20756 209 2106221216 31535 31838 32149 33405 42563 41633 4416 5367 5:4654 55502 56130 4545 10450 21110 3272 44707 5716 10900 22751 33731 11000 23100 16010 3 1.2000 26100 460 21650 3.3 45311 5531 33101 45356 53019 1771 13746 46371 59753 5061 1600 3499 7507 81533 1.707 52271 5 4941 5.1031 67150 63357 65233 21153 666 7.9120 TOUT 7.16020 35491 0410 11915 1.473 10450 . 63115 3336 64343 65474 6425 6.7794 6.95 7,0192 7 72857 7430 7500 2.7361 7.1923 10517 3000 5 333681 83593 11540 59545 9.1591 9.3021 9 94673 7027 99091 10 3014 104679 107314 11 0001 11 30 10 10.5 101413 111637114235 11078 1140 124164125412 10 0166 11.5779 132053 2009 17210 1995 92508 103563 1044919 100 1794 121100 128164 135 13.9716 36 96150 100383 11481520210 13:46 141923 15605 165603 LU 10.3394 131640 150 12579 149374 173312 13.7757 16541 19.7959 2497 1104 196446 11 11.635 120411114131 12.1956 13.1930 1.630 14.025814610 111110 111 1160 164 146176 15 110 15.6765 1615 11 112 1145 H 155190 16001 106770112919110111 14 1515601 1694 169119 17.591 18190096 197541 11162379 1693 1691 02 19:15091997102032457195 149191 199 1638319711 1.1407 203500 21.7133 23.331 167110 11360 17110.100620,953 1954 159 35118 119291 1896 192000151 315505 2114 350191 3697502909 760 2700 241290 261321 330090723 3621 346725 00054 35.119 411511 710 10 385407 47.813 44103 493959 16 1745041014 19.011119.641 10.7610 31.7050 11.605237417 34.404 27.11 1186141 1940 1941 136 224144 33499126154 1551 971340122017 18 19 103307901 21.4 2160 3611693337236671 28001629570 11102733100 1921011 1312172329143654135870427797277 303714320603381 357856 204705701261833216112920530992 12:01 19 367661 1992 32.7503 359737 33364502 4001 16.37403 10183 76001001 150 1040 17110 1511400 562750 10033 710534 735100 HO LIR 27 21141414 16 31 29 29536131313160 3750539641 42.3031 54.44 110 1.30 151112671501171155301011114131175706 30.1111 3X950 581564 696705 76954 201011111 30351211016 417 45000 45001733.05 503 69.7534 69 330111213143110 10492 35161000870 7715 50 55 11 7 136.6198 1611091641203.004 27010290 3581434 PR Production/bne/accounting/spiceland_int_10e/table_6.png Present Value of an Annuity Due of $1 TABLE 6 PVAD *(1+ 1 2 1.046 154 100000 100000 199010 155522 297040 295550 394099 391220 490197 4554 209 256 100000 100000 193039197561 294156292342 338356 315602 410773 476197 1 3.045 100000 197057 291347 112561 471710 3.54 100000 196011 2.1996) 3.80164 467301 100000 196154 218602 377509 462990 5.09 534 100000 100000 100000 195694 1477 2.07267 2859112.84633 376 3.72325 451753 454595 6.04 7.046 KO 9. 1.00000 100000 100000 100000 1940 192458 192591 1.91741 213392.0000227326 275911 167301 157710 31 4.46511 431213 10.09 110 1204 2009 100000 100000 100000 1.00000 190909 1900901193861 273554 271253 2005-25771 3.4685344771 110111001 416974105407 1 5 CISOS 6 5.35995 2 5:45132 6.24714 1 585343 5.78164 5.7134 5.64583 5.57971 6,09719 66014 65001 6 41719 772819 759821 747199 7.1999 721023 56510 45591348 17014 01909 956602 916053 910224 97087 73611 5.51505 63855 7:18454 2799 160709 700203 5.32945 6 07567 6.73637 746321 110730 6.157 6.19170 159509 3.79 527038521236 5.100204.99271 459965 479079 4.6 4.60 01 5.99551591732 376654 315536373051511141 32551 668207 658236 6.2017 603295 510051205391160459 733457 720979697110 674564 SHE303 6140123.96764 1718 2.95330 71 7.51523 734619699515 670365770563501097 6 2.73274 01 6533 11 1047130 10.32218 9.78306 9.55030 931661 11000 91273 172173 13763 36000 17100314114 9.14457 61935 6.65032 0349 1211367631107112 10.7505510 514211035362 10 00155 0157392910641909154 E 2007 71 74930020552691170306 13 1235508 1175 1157534 11 25778 1095400 1031 10 3501 1011658 9.32595115 3 1530 3107130749338714022 14113374 1273153124331 11 11.6 I 102 1092565 106 10791571031706 955301 5659037810156474215555766 151400120 3431 1110625 110 12900 1193053 115 1122201109664 105 1091797 92404 11611 SYMY78057 PERG 16 14 14.84311384776 18.30138 1293704 12.514 12:1180 11.73055 11.37661103758 10.71725 18.107348 ITS 11 1571782 1513136 147 1403500 1310110 11011121303301233401 117 11:40:16 111000 10400731356 316 07172956 11165672 15907651520167147170 16106121365111856 1270719111161114776 1076311 10110446) 2015 7763 19 17 1407136 13701 1515336 1475 141890 1165030131199 11609 10 11 10 10 10 10 101 1010 S121 301833001174611867646 157 15:20 1470944 1431135032 13055212007051215813113500 1000100 2011 1010 WIFE 111904555 1816 1735145 146 1747 111140 141 140 13.47111295038 11401 140 10:11 10:11855 131419 100 1990017335541701111 0134944161101555011 1710 0360173700822 114333 2016 1917 1737 170210 16H101 1330 1650 130 131 11 401814101510 1570 111 1110350 2013 10174 16 15 14 13 12 113
