Crane Company issues $26400000, 8.0%, 5-year bonds dated January 1, 2024 on January 1, 2024. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 7.0%. Given the following present value factors, what are the proceeds from the bond issue? Present value of a single sum for 5 periods Present value of a single sum for 10 periods Present value of an annuity for 5 periods Present value of an annuity for 10 periods O $27487261 O $26400000 O $27446108 O $27497828 3.5% 0.84197 0.70892 4.51505 4.0% 0.82193 0.67556 7.0% 8.31661 8.11090 0.71299 0.50835 4.45182 4.10020 7.02358 8.0% 0.68058 0.46319 3.99271 6.71008

Crane Company issues $26400000, 8.0%, 5-year bonds dated January 1, 2024 on January 1, 2024. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 7.0%. Given the following present value factors, what are the proceeds from the bond issue? Present value of a single sum for 5 periods Present value of a single sum for 10 periods Present value of an annuity for 5 periods Present value of an annuity for 10 periods O $27487261 O $26400000 O $27446108 O $27497828 3.5% 0.84197 0.70892 4.51505 4.0% 0.82193 0.67556 7.0% 8.31661 8.11090 0.71299 0.50835 4.45182 4.10020 7.02358 8.0% 0.68058 0.46319 3.99271 6.71008

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 2PA: On July 1, Somerset Inc. issued $200,000 of 10%, 10-year bonds when the market rate was 12%. The...

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