When the market rate of interest was 12%, Halprin Corporation issued $666,000, 11%, 10-year bonds that pay interest annually. Use the present value tables below. The selling price of this bond issue was? Present Value of 1 Present Value of a series of 1 Payments to Be Paid in the Future to Be Paid in the Future Periods 1 0.95238 0.94340 1 0.95238 093458 2009 2 0.90703 2 1.85941 183399 10802 1.73554 0.86384 081680 0.75132 2.72325 2.67301 2.48685 4 0.82270 0.79300 0.76290 068301 4 3.54595 3.46511 31721 0.78353 0.74726 0.71299 062092 5 421235 0.74622 0.7019 0.56447 5.075 491732 4.76654 435526 7 0.71056 02275 051316 7 5.78637 4 A 0.58301 046651 59710 5.31403 9 064451 0.54393 042410 7.1073 5.7502 10 0.61191 0.35840 OSOS 038554 10 7.72174 7.36609 702158 6.14457 Periods 11.05 11.55 Periods 115 11.55 12.35 1 0.900 0.86 0.89286 1 0.000 0.89686 088889 0.81162 0.80436 0.79719 0.79012 2 1.71252 1.70122 1.69005 1.67901 0.73119 0.72140 0.71178 0.70233 2.44372 2.42262 2.00183 4 064699 063552 063430 4 3.10045 306961 303735 3.00564 5 0.59345 058036 055493 5 3.69590 3.60478 3.56057 6 0.53464 0.53042 0.4931 6 4.17029 4.11141 4.05184 7 0.48166 0.46674 0.45235 0.43846 7 4.71220 463704 4.49230 8 0.43393 0.41860 0.40338 0.38974 8 5.14612 5.05564 4.96764 0.39093 0.37543 0.36061 0.34644 9 553705 543106 5.32825 5.22849 10 0.35218 0.33671 0.32197 0.30795 10 588923 5.76777 5.65022 551643 Oa. $628,367 Ob. $665,997 Oc. $3,786,634 Od. $3,948,028 The present value of $57,000 to be received in one year, at 6% compounded annually, is (rounded to nearest dollar) Use the present value table in Exhibit 8. a. $57,000 Ob. $53,774 Oc $53,271 Od $50,893 EXHIBIT 8 Present Value of $1 at Compound Interest Periods 1 2 3 4 5 6 7 8 9 10 4% 0.96154 0.92456 0.88900 0.85480 0.82193 0.79031 0.75992 0.73069 0.70259 0.67556 4%% 0.956940 0.915730 0.876300 0.838560 0.802450 0.767900 0.734830 0.703190 0.672900 0.643930 5% 0.95238 0.90703 0.86384 0.82270 0.78353 0.74622 0.71068 0.67684 0.64461 0.61391 5%% 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 6%% 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% 0.90909 0.82645 0.75131 0.68301 0.62092 0.56447 0.51316 0.46651 0.42410 0.38554 11% 0.90090 0.81162 0.73119 0.65873 0.59345 0.53464 0.48166 0.43393 0.39092 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
