Crane Company issues $24000000, 4%, 5-year bonds dated January 1, 2020 on January 1, 2020. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 3%. What are the proceeds from the bond issue? 1.5% 2.0% 3% 4% Present value of a single sum for 5 0.92826 0.90573 0.86261 0.82193 periods Present value of a single sum for 10 0.86167 0.82035 0.74409 0.67556 periods Present value of an annuity for 5 4.78264 4.71346 4.57971 4.45182 periods Present value of an annuity for 10 9.22218 8.98259 8.53020 8.11090 periods O $24000000 O $25099221 O $25106726 O $25095151

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Crane Company issues $24000000, 4%, 5-year bonds dated January 1, 2020 on January 1, 2020. The bonds pay interest
semiannually on June 30 and December 31. The bonds are issued to yield 3%. What are the proceeds from the bond issue?
1.5%
2.0%
3%
4%
Present value of a single sum for 5
0.92826
0.90573 0.86261
0.82193
periods
Present value of a single sum for 10
0.86167 0.82035 0.74409 0.67556
periods
Present value of an annuity for 5
4.78264
4.71346
4.57971
4.45182
periods
Present value of an annuity for 10
9.22218
8.98259 8.53020 8.11090
periods
O $24000000
O $25099221
O $25106726
O $25095151
MacBook Air
II
Transcribed Image Text:Question 4 of 17 <> -/1 View Policies Current Attempt in Progress Crane Company issues $24000000, 4%, 5-year bonds dated January 1, 2020 on January 1, 2020. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 3%. What are the proceeds from the bond issue? 1.5% 2.0% 3% 4% Present value of a single sum for 5 0.92826 0.90573 0.86261 0.82193 periods Present value of a single sum for 10 0.86167 0.82035 0.74409 0.67556 periods Present value of an annuity for 5 4.78264 4.71346 4.57971 4.45182 periods Present value of an annuity for 10 9.22218 8.98259 8.53020 8.11090 periods O $24000000 O $25099221 O $25106726 O $25095151 MacBook Air II
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