Pinder Co. produces and sells high-quality video equipment. To finance its operations, Pinder issued $27,000,000 of three-year, 9% bonds, with interest payable semiannually, at a market (effective) interest rate of 11%. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. X Open spreadsheet Determine the present value of the bonds payable. Round your answer to the nearest dollar.

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 14MC: Whirlie Inc. issued $300,000 face value, 10% paid annually, 10-year bonds for $319,251 when the...
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Present value of bonds payable; discount
Pinder Co. produces and sells high-quality video equipment. To finance its operations, Pinder issued $27,000,000 of three-year, 9% bonds,
with interest payable semiannually, at a market (effective) interest rate of 11%. This information has been collected in the Microsoft Excel
Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below.
X
Open spreadsheet
Determine the present value of the bonds payable. Round your answer to the nearest dollar.
$
Transcribed Image Text:Present value of bonds payable; discount Pinder Co. produces and sells high-quality video equipment. To finance its operations, Pinder issued $27,000,000 of three-year, 9% bonds, with interest payable semiannually, at a market (effective) interest rate of 11%. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. X Open spreadsheet Determine the present value of the bonds payable. Round your answer to the nearest dollar. $
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