Question: Bonds payable calculate market value. On March 1, 2005, Matt purchased $63,000 of Lawson Co.s 8%, 20-year bonds at face value. Lawson Co. has

Bonds payable – calculate market value. On March 1, 2005, Matt purchased $63,000 of Lawson Co.’s 8%, 20-year bonds at face value. Lawson Co. has paid the annual interest due on the bonds regularly. On March 1, 2010 market interest rates had risen to 12%, and Matt is considering selling the bonds.

Using the present value, calculate the market value of matt’s bonds on March 1, 2010.

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