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Periods 52% 4% 42% 5% 6% 7% 10% 11% 12% 13% 0.96154 0.95694 0.94787 0.94340 0.93897 0.93458 0.90909 0.89286 0.95238 0.90090 0.88496 0.91573 0.90703 0.89000 0.88166 0.92456 0.89845 0.87344 0.82645 0.81162 0.79719 0.78315 3 0.88900 0.87630 0.86384 0.85161 0.83962 0.82785 0.81630 0.75131 0.73119 0.71178 0.69305 0.80722 0.68301 0.85480 0.83856 0.82270 0.79209 0.77732 0.76290 0.65873 0.63552 0.61332 0.78353 0.76513 0.71299 0.54276 0.82193 0.80245 0.74726 0.72988 0.62092 0.59345 0.56743 0.79031 0.74622 0.72525 0.68533 0.66634 0.50663 0.76790 0.70496 0.56447 0.53464 0.48032 0.75992 0.73483 0.71068 0.68744 0.66506 0.64351 0.62275 0.51316 0.48166 0.45235 0.42506 0.65160 0.60423 0.58201 0.40388 8 0.73069 0.70319 0.67684 0.62741 0.46651 0.43393 0.37616 0.36061 0.70259 0.64461 0.59190 0.54393 0.67290 0.61763 0.56735 0.42410 0.39092 0.33288 0.64393 10 0.67556 0.61391 0.58543 0.55839 0.53273 0.50835 0.38554 0.35218 0.32197 0.29459 Periods 4% 42% 5½% 6% 7% 10% 11% 12% 13% 0.94340 0.96154 0.95694 0.95238 0.94787 0.93897 0.93458 0.90909 0.90090 0.89286 0.88496 1.82063 1.73554 1.69005 1.88609 1.87267 1.85941 1.84632 1.83339 1.80802 1.71252 1.66810 2.72325 3 2.77509 2.74896 2.69793 2.67301 2.64848 2.62432 2.48685 2.44371 2.40183 2.36115 3.62990 3.50515 2.97447 4 3.58753 3.54595 3.46511 3.42580 3.38721 3.16987 3.10245 3.03735 4.38998 4.45182 4.32948 4.27028 4.21236 4.15568 4.10020 3.79079 3.69590 3.60478 3.51723 5.15787 5.07569 5.24214 4.99553 4.91732 4.84101 4.76654 4.35526 4.23054 4.11141 3.99755 6.00205 5.89270 5.78637 5.68297 5.58238 5.48452 5.38929 4.86842 4.71220 4.56376 4.42261 6.73274 6.59589 6.46321 6.33457 6.20979 6.08875 5.97130 5.33493 5.14612 4.96764 4.79677 6.51523 9. 7.43533 7.26879 7.10782 6.95220 6.80169 6.65610 5.75902 5.53705 5.32825 5.13166 7.91272 7.53763 7.18883 7.02358 10 8.11090 7.72173 7.36009 6.14457 5.88923 5.65022 5.42624

Periods 52% 4% 42% 5% 6% 7% 10% 11% 12% 13% 0.96154 0.95694 0.94787 0.94340 0.93897 0.93458 0.90909 0.89286 0.95238 0.90090 0.88496 0.91573 0.90703 0.89000 0.88166 0.92456 0.89845 0.87344 0.82645 0.81162 0.79719 0.78315 3 0.88900 0.87630 0.86384 0.85161 0.83962 0.82785 0.81630 0.75131 0.73119 0.71178 0.69305 0.80722 0.68301 0.85480 0.83856 0.82270 0.79209 0.77732 0.76290 0.65873 0.63552 0.61332 0.78353 0.76513 0.71299 0.54276 0.82193 0.80245 0.74726 0.72988 0.62092 0.59345 0.56743 0.79031 0.74622 0.72525 0.68533 0.66634 0.50663 0.76790 0.70496 0.56447 0.53464 0.48032 0.75992 0.73483 0.71068 0.68744 0.66506 0.64351 0.62275 0.51316 0.48166 0.45235 0.42506 0.65160 0.60423 0.58201 0.40388 8 0.73069 0.70319 0.67684 0.62741 0.46651 0.43393 0.37616 0.36061 0.70259 0.64461 0.59190 0.54393 0.67290 0.61763 0.56735 0.42410 0.39092 0.33288 0.64393 10 0.67556 0.61391 0.58543 0.55839 0.53273 0.50835 0.38554 0.35218 0.32197 0.29459 Periods 4% 42% 5½% 6% 7% 10% 11% 12% 13% 0.94340 0.96154 0.95694 0.95238 0.94787 0.93897 0.93458 0.90909 0.90090 0.89286 0.88496 1.82063 1.73554 1.69005 1.88609 1.87267 1.85941 1.84632 1.83339 1.80802 1.71252 1.66810 2.72325 3 2.77509 2.74896 2.69793 2.67301 2.64848 2.62432 2.48685 2.44371 2.40183 2.36115 3.62990 3.50515 2.97447 4 3.58753 3.54595 3.46511 3.42580 3.38721 3.16987 3.10245 3.03735 4.38998 4.45182 4.32948 4.27028 4.21236 4.15568 4.10020 3.79079 3.69590 3.60478 3.51723 5.15787 5.07569 5.24214 4.99553 4.91732 4.84101 4.76654 4.35526 4.23054 4.11141 3.99755 6.00205 5.89270 5.78637 5.68297 5.58238 5.48452 5.38929 4.86842 4.71220 4.56376 4.42261 6.73274 6.59589 6.46321 6.33457 6.20979 6.08875 5.97130 5.33493 5.14612 4.96764 4.79677 6.51523 9. 7.43533 7.26879 7.10782 6.95220 6.80169 6.65610 5.75902 5.53705 5.32825 5.13166 7.91272 7.53763 7.18883 7.02358 10 8.11090 7.72173 7.36009 6.14457 5.88923 5.65022 5.42624

Financial & Managerial Accounting
Financial & Managerial Accounting
13th Edition
ISBN:9781285866307
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter10: Current Liabilities And Payroll
Section: Chapter Questions
Problem 10.23EX
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Moss Co. issued $42,000,000 of five-year, 11% bonds, with interest payable semiannually, at a market (effective) interest rate of 9%. Determine the present value of the bonds payable using the present value tables in Exhibits 8 and 10. Round to the nearest dollar.

Exhibits 8 and 10 Attached

 

Periods 52% 4% 42% 5% 6% 7% 10% 11% 12% 13% 0.96154 0.95694 0.94787 0.94340 0.93897 0.93458 0.90909 0.89286 0.95238 0.90090 0.88496 0.91573 0.90703 0.89000 0.88166 0.92456 0.89845 0.87344 0.82645 0.81162 0.79719 0.78315 3 0.88900 0.87630 0.86384 0.85161 0.83962 0.82785 0.81630 0.75131 0.73119 0.71178 0.69305 0.80722 0.68301 0.85480 0.83856 0.82270 0.79209 0.77732 0.76290 0.65873 0.63552 0.61332 0.78353 0.76513 0.71299 0.54276 0.82193 0.80245 0.74726 0.72988 0.62092 0.59345 0.56743 0.79031 0.74622 0.72525 0.68533 0.66634 0.50663 0.76790 0.70496 0.56447 0.53464 0.48032 0.75992 0.73483 0.71068 0.68744 0.66506 0.64351 0.62275 0.51316 0.48166 0.45235 0.42506 0.65160 0.60423 0.58201 0.40388 8 0.73069 0.70319 0.67684 0.62741 0.46651 0.43393 0.37616 0.36061 0.70259 0.64461 0.59190 0.54393 0.67290 0.61763 0.56735 0.42410 0.39092 0.33288 0.64393 10 0.67556 0.61391 0.58543 0.55839 0.53273 0.50835 0.38554 0.35218 0.32197 0.29459
Transcribed Image Text:Periods 52% 4% 42% 5% 6% 7% 10% 11% 12% 13% 0.96154 0.95694 0.94787 0.94340 0.93897 0.93458 0.90909 0.89286 0.95238 0.90090 0.88496 0.91573 0.90703 0.89000 0.88166 0.92456 0.89845 0.87344 0.82645 0.81162 0.79719 0.78315 3 0.88900 0.87630 0.86384 0.85161 0.83962 0.82785 0.81630 0.75131 0.73119 0.71178 0.69305 0.80722 0.68301 0.85480 0.83856 0.82270 0.79209 0.77732 0.76290 0.65873 0.63552 0.61332 0.78353 0.76513 0.71299 0.54276 0.82193 0.80245 0.74726 0.72988 0.62092 0.59345 0.56743 0.79031 0.74622 0.72525 0.68533 0.66634 0.50663 0.76790 0.70496 0.56447 0.53464 0.48032 0.75992 0.73483 0.71068 0.68744 0.66506 0.64351 0.62275 0.51316 0.48166 0.45235 0.42506 0.65160 0.60423 0.58201 0.40388 8 0.73069 0.70319 0.67684 0.62741 0.46651 0.43393 0.37616 0.36061 0.70259 0.64461 0.59190 0.54393 0.67290 0.61763 0.56735 0.42410 0.39092 0.33288 0.64393 10 0.67556 0.61391 0.58543 0.55839 0.53273 0.50835 0.38554 0.35218 0.32197 0.29459
Periods 4% 42% 5½% 6% 7% 10% 11% 12% 13% 0.94340 0.96154 0.95694 0.95238 0.94787 0.93897 0.93458 0.90909 0.90090 0.89286 0.88496 1.82063 1.73554 1.69005 1.88609 1.87267 1.85941 1.84632 1.83339 1.80802 1.71252 1.66810 2.72325 3 2.77509 2.74896 2.69793 2.67301 2.64848 2.62432 2.48685 2.44371 2.40183 2.36115 3.62990 3.50515 2.97447 4 3.58753 3.54595 3.46511 3.42580 3.38721 3.16987 3.10245 3.03735 4.38998 4.45182 4.32948 4.27028 4.21236 4.15568 4.10020 3.79079 3.69590 3.60478 3.51723 5.15787 5.07569 5.24214 4.99553 4.91732 4.84101 4.76654 4.35526 4.23054 4.11141 3.99755 6.00205 5.89270 5.78637 5.68297 5.58238 5.48452 5.38929 4.86842 4.71220 4.56376 4.42261 6.73274 6.59589 6.46321 6.33457 6.20979 6.08875 5.97130 5.33493 5.14612 4.96764 4.79677 6.51523 9. 7.43533 7.26879 7.10782 6.95220 6.80169 6.65610 5.75902 5.53705 5.32825 5.13166 7.91272 7.53763 7.18883 7.02358 10 8.11090 7.72173 7.36009 6.14457 5.88923 5.65022 5.42624
Transcribed Image Text:Periods 4% 42% 5½% 6% 7% 10% 11% 12% 13% 0.94340 0.96154 0.95694 0.95238 0.94787 0.93897 0.93458 0.90909 0.90090 0.89286 0.88496 1.82063 1.73554 1.69005 1.88609 1.87267 1.85941 1.84632 1.83339 1.80802 1.71252 1.66810 2.72325 3 2.77509 2.74896 2.69793 2.67301 2.64848 2.62432 2.48685 2.44371 2.40183 2.36115 3.62990 3.50515 2.97447 4 3.58753 3.54595 3.46511 3.42580 3.38721 3.16987 3.10245 3.03735 4.38998 4.45182 4.32948 4.27028 4.21236 4.15568 4.10020 3.79079 3.69590 3.60478 3.51723 5.15787 5.07569 5.24214 4.99553 4.91732 4.84101 4.76654 4.35526 4.23054 4.11141 3.99755 6.00205 5.89270 5.78637 5.68297 5.58238 5.48452 5.38929 4.86842 4.71220 4.56376 4.42261 6.73274 6.59589 6.46321 6.33457 6.20979 6.08875 5.97130 5.33493 5.14612 4.96764 4.79677 6.51523 9. 7.43533 7.26879 7.10782 6.95220 6.80169 6.65610 5.75902 5.53705 5.32825 5.13166 7.91272 7.53763 7.18883 7.02358 10 8.11090 7.72173 7.36009 6.14457 5.88923 5.65022 5.42624
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