You are a CPA in private practice specializing in financial planning from an accounting perspective. Various clients have presented you with questions, as follows: Client 1 The FMO Company has an outstanding bond issue in the amount of $779,000 that matures on April 30, 2025. The company does not wish to refund the debt (issue new debt to replace the old debt). Instead, the company wants to redeem the bonds and retire the debt on the maturity date. As of April 30, 2016, the company has saved cash in the amount of $34,000 towards the retirement of the debt and has that amount on deposit with a local bank earning 20% interest, compounded quarterly. The FMO Company intends to make quarterly deposits to the bank savings account beginning on July 31, 2016 and wants to deposit the proper amount each quarter so that the total amount of the bond issue is available to redeem the bonds on their maturity date. The FMO Company has retained you to compute the amount that they should deposit to their bank account each quarter beginning on July 31, 2016 so that they have the full $779,000 on April 30, 2025 to retire this debt. Client 2 The UZQ Company loaned the IVT Company $1,182,000 on January 31, 2014. The terms of the loan provide that the principal must be repaid in full on January 31, 2023 and that interest at an annual rate of 6% must be paid semi-annually. The UZQ Company now is planning an expansion of their plant and will need the cash that was loaned to the IVT Company before January 31, 2023. Therefore they are exploring an opportunity to sell the loan to a local bank on January 31, 2017 The bank is willing to purchase the loan from the UZQ Company. However the bank requires interest at 10%, compounded semi-annually. You have been retained by the UZQ Company to compute the proceeds they will receive if they accept the opportunity from the bank. Assume that all interest has been paid timely by the IVT Company. Client 3 The NWS Company is shopping for a new fleet of trucks. They have determined their needs and the trucks will cost $235,000. The company has contacted its local bank for financing. The bank has offered the following financing plan: Total cost of trucks $235,000 Less cash down payment 47,000 Loan amount $188,000 Term of loan 9 years Quarterly loan payment $8,611 The NWS Company has retained you to compute the interest rate used by the bank. Client 4 The YHH Company has $542,000 that it would like to invest for 11 years. The company has been in contact with an investment firm that has offered two options for investment. The first option will pay the YHH Company a single lump-sum payment of $1,263,748.88 at the end of the 11 years. The second option will pay the YHH Company $79,645.09 at the end of each year for the next 11 years. You have been retained by the YHH Company to determine which investment will provide the greatest return on their investment. To do so, compute the annual rate of return offered by each option. Instructions: Prepare well-organized and properly labeled schedules computing the information requested by your clients