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On September 30, 2018, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $440 million. The bonds mature on September 30, 2038 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30. ((EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Table values are based on: Required: Determine the price of the bonds on September 30, 2018. (Enter your answers in whole dollars. Round your final answers to nearest whole dollar amount.) n= Cash Flow Interest Principal Price of bonds Amount 20 8% $ Help Present Value Save & E 364,500,084

On September 30, 2018, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $440 million. The bonds mature on September 30, 2038 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30. ((EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Table values are based on: Required: Determine the price of the bonds on September 30, 2018. (Enter your answers in whole dollars. Round your final answers to nearest whole dollar amount.) n= Cash Flow Interest Principal Price of bonds Amount 20 8% $ Help Present Value Save & E 364,500,084

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 1RE
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On September 30, 2018, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $440 million. The bonds mature on September 30, 2038 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30. ((EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Table values are based on: Required: Determine the price of the bonds on September 30, 2018. (Enter your answers in whole dollars. Round your final answers to nearest whole dollar amount.) n= Cash Flow Interest Principal Price of bonds Amount 20 8% Help Present Value Save & Exit $ 364,500,084
Transcribed Image Text:On September 30, 2018, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $440 million. The bonds mature on September 30, 2038 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30. ((EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Table values are based on: Required: Determine the price of the bonds on September 30, 2018. (Enter your answers in whole dollars. Round your final answers to nearest whole dollar amount.) n= Cash Flow Interest Principal Price of bonds Amount 20 8% Help Present Value Save & Exit $ 364,500,084
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