FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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### Required Information **[The following information applies to the questions displayed below.]** On January 1, 2021, Wild Rapids Water Park issues $391 million of 9% bonds to finance expansion. The bonds are due in 20 years, with interest payable semiannually on June 30 and December 31 each year. #### 3-a. If the market rate is 10%, calculate the issue price. (Use appropriate factor(s) from the tables provided. Round "Market Interest rate" to 1 decimal place. Round your final answers to the nearest whole dollar.) **Bond Characteristics and Table:** - **Face amount:** $39,100,000 - **Interest payment:** [Blank] - **Periods to maturity:** [Blank] - **Market interest rate:** [Blank] - **Issue price:** [Blank] #### 3-b. The bonds will issue at: - ○ A Discount - ○ A Premium - ○ Face amount
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Transcribed Image Text:### Required Information **[The following information applies to the questions displayed below.]** On January 1, 2021, Wild Rapids Water Park issues $391 million of 9% bonds to finance expansion. The bonds are due in 20 years, with interest payable semiannually on June 30 and December 31 each year. #### 3-a. If the market rate is 10%, calculate the issue price. (Use appropriate factor(s) from the tables provided. Round "Market Interest rate" to 1 decimal place. Round your final answers to the nearest whole dollar.) **Bond Characteristics and Table:** - **Face amount:** $39,100,000 - **Interest payment:** [Blank] - **Periods to maturity:** [Blank] - **Market interest rate:** [Blank] - **Issue price:** [Blank] #### 3-b. The bonds will issue at: - ○ A Discount - ○ A Premium - ○ Face amount
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