Pina Corporation issues $450,000 of 8% bonds, due in 9 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%. Click here to view factor tables. Compute the issue price of the bonds. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to O decimal places, e.g. 58,971.)
Pina Corporation issues $450,000 of 8% bonds, due in 9 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%. Click here to view factor tables. Compute the issue price of the bonds. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to O decimal places, e.g. 58,971.)
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 4EA: On January 1, 2018, Wawatosa Inc. issued 5-year bonds with a face value of $200,000 and a stated...
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![Pina Corporation issues $450,000 of 8% bonds, due in 9 years, with interest payable semiannually. At the time of issue, the market rate
for such bonds is 10%.
Click here to view factor tables.
Compute the issue price of the bonds. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0
decimal places, e.g. 58,971.)
Issue price of the bonds
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff2f707d4-6a1d-4839-a131-aec90ae36224%2F9c2b4513-5a86-4a60-aa31-e0c2cfd3bad8%2Fwjz7l2_processed.png&w=3840&q=75)
Transcribed Image Text:Pina Corporation issues $450,000 of 8% bonds, due in 9 years, with interest payable semiannually. At the time of issue, the market rate
for such bonds is 10%.
Click here to view factor tables.
Compute the issue price of the bonds. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0
decimal places, e.g. 58,971.)
Issue price of the bonds
$
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