On January 1, 2021, Maria, Inc. acquired 70% of the voting shares of Sandro, Inc. On December 31, 2022, Maria purchased S200,000 par value bonds directly from de Sandro for $150,000. These are the only bonds that Sandro has issued. Required: Be sure to show all work to receive full credit. For how much will the Bonds Payable account be reported on the 2022 Consolidated Balance Sheet? Prepare the necessary consolidation entry to prepare the 2022 financial statements

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Present Value

Present value (PV) is defined as the current or present value of all future sums of cash flow or money at a specified rate of return. This rate of return is known as the discounted rate, which is essentially the interest rate, discounted over some time. The expected cash flows are discounted at a discount rate to compute the present value. The higher the discount rate, the higher the future value (FV), but the lower the present value.