FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:On January 1, 2021, Rare Bird Ltd. purchased 10% bonds dated January 1, 2021, with a face amount of $41 million. The bonds mature
2031 (10 years). For bonds of similar risk and maturity, the market yield is 9%. Interest is paid semiannually on June 30 and December
31. (FV of $1, PV of $1, FVA of $1, PVA of $1, EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
Required:
Determine the price of the bonds at January 1, 2021. (Enter your answer in whole dollars.)
Price of the bonds
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