A company issued $30 million of face value bonds, with a coupon rate of 5% payable semi-annually. The maturity date on the bonds is in 15 years. The bonds were sold in the market and investors required a 5.5% yield to maturity. Given this information, how much was received by the company in its bond issue? Enter your answer using two decimal places and with a $ and appropriate comma separators. For example $1,234,567.89

A company issued $30 million of face value bonds, with a coupon rate of 5% payable semi-annually. The maturity date on the bonds is in 15 years. The bonds were sold in the market and investors required a 5.5% yield to maturity. Given this information, how much was received by the company in its bond issue? Enter your answer using two decimal places and with a $ and appropriate comma separators. For example $1,234,567.89

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 3EB: Smashing Cantaloupes Inc. issued 5-year bonds with a par value of $35,000 and an 8% semiannual...

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