Use the following tables to calculate the present value of a $278,000 5%, 5-year bond that pays $13,900 interest annually, if the market rate of interest is 10%. Round to the nearest dollar. Present Value of $1 1 Present Value of Annuity of $1 Periods 5% 6% 7% 10 % 1 Periods 5% 6% 7% 10% 2 95238 94340 93458 90909 1 .95238 .94340 93458 90909 2 90703 89000 87344 826451 2 1.85941 1.83339 1.80802 1.73554 3 86384 83962 81630 75131 3 4 82270 .79209 76290 68301 4 5 78353 74726 .71299 .62092 5 6 74622 .70496 66634 56447 6 5.07569 4.91732 4.76654 7 71068 66506 62275 51316 7 8 67684 .62741 58201 46651 8 6.20979 9 10 .64461 61391 59190 .54393 42410 9 2.72325 2.67301 2.62432 2.48685 3.54595 3.46511 3.38721 3.16987 4.32948 4.21236 4.10020 3.79079 4.35526 5.78637 5.58238 5.38929 4.86842 6.46321 5.97130 5.33493 7.10782 6.80169 6.51523 5.75902 55839 50835 385541 10 7.72173 7.36009 7.02358 6.14457 Previous Next> On the first day of the fiscal year, a company issues a $329,000, 10%, 10-year bond that pays semiannual interest of $16,450 ($329,000 x 10 % x 1/2), receiving cash of $345,500. Journalize the entry to record the first interest payment and amortization of premium using the straight-line method If an amount box does not require an entry, leave it blank. Previous Next > G