Exercise B-12 (Algo) Present value of bonds LO P1, P3 Spiller Corporation plans to issue 10%, 6-year, $ 580,000 par value bonds payable that pay interest semiannually on June and December 31. The bonds are dated January 1 of the current year and are issued on that date. (PV of $1, FV of $1, PVA of $1, and FVA of $1) Note: Use appropriate factor(s) from the tables provided. Round your "Table value" to 4 decimal places and final answers to nearest whole dollar. If the market rate of interest for the bonds is 8% on the date of issue, what will be the total cash proceeds from the bond issue?

Exercise B-12 (Algo) Present value of bonds LO P1, P3 Spiller Corporation plans to issue 10%, 6-year, $ 580,000 par value bonds payable that pay interest semiannually on June and December 31. The bonds are dated January 1 of the current year and are issued on that date. (PV of $1, FV of $1, PVA of $1, and FVA of $1) Note: Use appropriate factor(s) from the tables provided. Round your "Table value" to 4 decimal places and final answers to nearest whole dollar. If the market rate of interest for the bonds is 8% on the date of issue, what will be the total cash proceeds from the bond issue?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 70E

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