FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Blossom Railroad Co. is about to issue $314,000 of 10-year bonds paying an 12% interest rate, with interest payable annually. The discount rate for such securities is 8%. Click here to view the factor'table. How much can Blossom expect to receive for the sale of these bonds? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 0 decimal places, e.g. 2,525.) Present value of bonds $
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Transcribed Image Text:Blossom Railroad Co. is about to issue $314,000 of 10-year bonds paying an 12% interest rate, with interest payable annually. The discount rate for such securities is 8%. Click here to view the factor'table. How much can Blossom expect to receive for the sale of these bonds? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 0 decimal places, e.g. 2,525.) Present value of bonds $
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