On January 2, 2019, Flint Corporation issued $1,950,000 of 10% bonds to yield 11% due December...

 

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On January 2, 2019, Flint Corporation issued $1,950,000 of 10% bonds to yield 11% due December 31, 2028. Interest on the bonds is payable annually each December 31. The bonds are callable at 101 (i.e., at 101% of face amount), and on January 2, 2022, Flint called $1,170,000 face amount of the bonds and retired them. Determine the price of the Flint bonds when issued on January 2, 2019. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answer to O decimal places, e.g. 5,275.) Price of the Flint bonds $ On January 2, 2019, Flint Corporation issued $1,950,000 of 10% bonds to yield 11% due December 31, 2028. Interest on the bonds is payable annually each December 31. The bonds are callable at 101 (i.e., at 101% of face amount), and on January 2, 2022, Flint called $1,170,000 face amount of the bonds and retired them. Determine the price of the Flint bonds when issued on January 2, 2019. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answer to O decimal places, e.g. 5,275.) Price of the Flint bonds $

Answer rating: 100% (QA)

To determine the price of the Flint bonds when issued on January 2 2019 we need to calculate the pre... View the full answer