On December 31, 2009, Callahan Auto issued $1,500,000 of 8 percent, 10-year bonds. Interest is payable semiannually
Question:
On December 31, 2009, Callahan Auto issued $1,500,000 of 8 percent, 10-year bonds.
Interest is payable semiannually on June 30 and December 31.
Required:
What is the issue price if the bonds are sold to yield 6 percent (round to nearest dollar)?
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PV of interest payments 1500000 008 612 P...View the full answer
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Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-0324787351
1st Edition
Authors: Rich Jones, Mowen, Hansen, Heitger
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