Present value of bonds payable; discount Pinder Co. produces and sells high-quality video equipment. To finance its operations, Pinder issued $22,000,000 of four-year, 9% bonds, with interest payable semiannually, at a market (effective) interest rate of 10%. 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.     Open spreadsheet   Determine the present value of the bonds payable. Round your answer to the nearest dollar. $  fill in the blank 2

Q: Homework help!

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Q: Select one: O True O False

A:

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A: Issue price of the bonds = Present value of principal + Present value of interest payments where,…