Present Value of Bonds Payable; Premium Moss Co. issued $480,000 of five-year, 11% bonds, with interest payable semiannually, at a market (effective) interest rate of 10%. Determine the present value of the bonds payable, using the present value tables in Exhibit 5 and Exhibit 7. Round to the nearest dollar. Exhibit 5 Present Value of $1 at Compound Interest Periods NMONO 4% 47% 0.96154 0.956940 0.92456 0.915730 0.88900 0.876300 0.85480 0.838560 0.82193 0.802450 0.79031 0.767900 0.75992 0.734830 0.73069 0.703190 0.702590.672900 0.67556 0.643930 5% 0.95238 0.90703 0.86384 0.82270 0.78353 0.74622 0.71068 0.67684 0.64461 0.61391 57% 0.94787 0.89845 0.85161 0.80722 0.76513 0.72525 0.68744 0.65160 0.61763 0.58543 6% 0.94340 0.89000 0.83962 0.79209 0.74726 0.70496 0.66506 0.62741 0.59190 0.55839 672% 0.93897 0.88166 0.82785 0.77732 0.72988 0.68533 0.64351 0.60423 0.56735 0.53273 7% 0.93458 0.87344 0.81630 0.76290 0.71299 0.66634 0.62275 0.58201 0.54393 0.50835 10% 11% 0.909090.90090 0.82645 0.81162 0.75131 0.73119 0.68301 0.65873 0.62092 0.59345 0.56447 0.53464 0.51316 0.48166 0.46651 0.43393 0.42410 0.39092 0.38554 0.35218 12% 0.89286 0.79719 0.71178 0.63552 0.56743 0.50663 0.45235 0.40388 0.36061 0.32197 13% 0.88496 0.78315 0.69305 0.61332 0.54276 0.48032 0.42506 0.37616 0.33288 0.29459 Exhibit 7 Present Value of an Annuity of $1 at Compound Interest Periods 4% 472% 0.96154 0.95694 1.886091.87267 2.77509 2.74896 3.62990 3.58753 4.45182 4.38998 5.24214 5.15787 6.00205 5.89270 6.73274 6.59589 7.43533 7.26879 8.11090 7.91272 5% 572% 6% 672% 7% 0.95238 0.94787 0.94340 0.93897 0.93458 1.85941 1.84632 1.83339 1.820631.80802 2.72325 2.69793 2.67301 2.64848 2.62432 3.54595 3.50515 3.46511 3.42580 3.38721 4.32948 4.27028 4.21236 4.15568 4.10020 5.07569 4.99553 4.91732 4.84101 4.76654 5.78637 5.68297 5.58238 5.48452 5.38929 6.46321 6.33457 6.20979 6.08875 5.97130 7.10782 6.95220 6.80169 6.65610 6.51523 7.721737537637.360097.18883 7.02358 10% 11% 0.909090.90090 1.73554 1.71252 2.48685 2.44371 3.16987 3.10245 3.79079 3.69590 4.35526 4.23054 4.86842 4.71220 5.33493 5.14612 5.75902 5.53705 6.14457 5.88923 12% 0.89286 1.69005 2.40183 3.03735 3.60478 4.11141 4.56376 4.96764 5.32825 5.65022 13% 0.88496 1.66810 2.36115 2.97447 3.51723 3.99755 4.42261 4.79677 5.13166 5.42624