Brief Exercise 14-1Flounder Corporation issues $560,000 of 8% bonds, due in 10 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%.Compute the issue price of the bonds. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places e.g. 58,971.)Issue price of the bonds $
Brief Exercise 14-1
Compute the issue price of the bonds. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places e.g. 58,971.)
| Issue price of the bonds | $
|
Bond issue price = Present value of interest component @ market ...
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