When the market rate of interest was 12%, Halprin Corporation issued s768,000, 11%, five year bonds that pay interest annually. The selling price of this bond issue was needed. Use the following table,

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Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 10EB: Piedmont Corporation issued $200,000 of 10-year bonds at par. The bonds have a stated rate of 6% and...
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Whats the selling price of the bond issue?
When the market rate of interest was 12%, Halprin Corporation issued $768,000, 11%, five year bonds that pay interest annually. The selling price of this bond issue was . Use the following table, if
needed.
Present Value of $1 at Compound Interest
Periods
5%
6%
7%
10%
12%
1
0.95238
0.94340
0.93458
0.90909
0.89286
0.90703
0.89000
0.87344
0.82645
0.79719
0.86384
0.83962
0.81630
0.75132
0.711/8
4
0.82270
0.79209
0.76290
0.68301
0.63552
0.78353
0.74726
0.71299
0.62092
0.56743
6.
0.74622
0.70496
0.66634
0.56447
0.50663
7
0.71068
0.66506
0.62275
0.51316
0.45235
8
0.67684
0.62741
0.58201
0.46651
0.40388
0.64461
0.59190
0.54393
0.42410
0.36061
10
0.61391
0.55840
0.50835
0.38554
0,32197
Present Value of an Annuity of $1 at Compound Interest
Periods
5%
6%
7%
10%
12%
1
0.95238
0.94340
0.93458
0.90909
0.89286
2
1.85941
1.83339
1.80802
1.73554
1.69005
3
2.72325
2.67301
2.62432
2.48685
2.40183
4
3.54595
3.46511
3.38721
3.16987
3.03735
4.32948
4.21236
4.10020
3.79079
3.60478
6.
5.07569
4.91732
4.76654
4.35526
4.11141
Transcribed Image Text:When the market rate of interest was 12%, Halprin Corporation issued $768,000, 11%, five year bonds that pay interest annually. The selling price of this bond issue was . Use the following table, if needed. Present Value of $1 at Compound Interest Periods 5% 6% 7% 10% 12% 1 0.95238 0.94340 0.93458 0.90909 0.89286 0.90703 0.89000 0.87344 0.82645 0.79719 0.86384 0.83962 0.81630 0.75132 0.711/8 4 0.82270 0.79209 0.76290 0.68301 0.63552 0.78353 0.74726 0.71299 0.62092 0.56743 6. 0.74622 0.70496 0.66634 0.56447 0.50663 7 0.71068 0.66506 0.62275 0.51316 0.45235 8 0.67684 0.62741 0.58201 0.46651 0.40388 0.64461 0.59190 0.54393 0.42410 0.36061 10 0.61391 0.55840 0.50835 0.38554 0,32197 Present Value of an Annuity of $1 at Compound Interest Periods 5% 6% 7% 10% 12% 1 0.95238 0.94340 0.93458 0.90909 0.89286 2 1.85941 1.83339 1.80802 1.73554 1.69005 3 2.72325 2.67301 2.62432 2.48685 2.40183 4 3.54595 3.46511 3.38721 3.16987 3.03735 4.32948 4.21236 4.10020 3.79079 3.60478 6. 5.07569 4.91732 4.76654 4.35526 4.11141
0.74622
0.70496
0.66634
0.56447
0.50663
0.71068
0.66506
0.62275
0.51316
0.45235
8
0.67684
0.62741
0.58201
0.46651
0.40388
9.
0.64461
0.59190
0.54393
0.42410
0.36061
10
0.61391
0.55840
0.50835
0.38554
0.32197
Present Value of an Annuity of $1 at Compound Interest
Periods
5%
6%
7%
10%
12%
1
0.95238
0.94340
0.93458
0.90909
0.89286
2
1.85941
1.83339
1.80802
1.73554
1.69005
3
2.72325
2.67301
2.62432
2.48685
2.40183
4
3.54595
3.46511
3.38721
3.16987
3.03735
4.32948
4.21236
4.10020
3.79079
3.60478
5.07569
4.91732
4.76654
4.35526
4.11141
7
5.78637
5.58238
5.38929
4.86842
4.56376
8.
6.46321
6.20979
5.97130
5.33493
4.96764
7.10782
6.80169
6.51523
5.75902
5.32825
10
7.72173
7.36009
7.02358
6.14457
5.65022
Oa. $740,318
Ob. $744,128
Oc. $1.086,390
Od. $1,179,914
Transcribed Image Text:0.74622 0.70496 0.66634 0.56447 0.50663 0.71068 0.66506 0.62275 0.51316 0.45235 8 0.67684 0.62741 0.58201 0.46651 0.40388 9. 0.64461 0.59190 0.54393 0.42410 0.36061 10 0.61391 0.55840 0.50835 0.38554 0.32197 Present Value of an Annuity of $1 at Compound Interest Periods 5% 6% 7% 10% 12% 1 0.95238 0.94340 0.93458 0.90909 0.89286 2 1.85941 1.83339 1.80802 1.73554 1.69005 3 2.72325 2.67301 2.62432 2.48685 2.40183 4 3.54595 3.46511 3.38721 3.16987 3.03735 4.32948 4.21236 4.10020 3.79079 3.60478 5.07569 4.91732 4.76654 4.35526 4.11141 7 5.78637 5.58238 5.38929 4.86842 4.56376 8. 6.46321 6.20979 5.97130 5.33493 4.96764 7.10782 6.80169 6.51523 5.75902 5.32825 10 7.72173 7.36009 7.02358 6.14457 5.65022 Oa. $740,318 Ob. $744,128 Oc. $1.086,390 Od. $1,179,914
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