Question: Calculate the cash proceeds using the given information. The answer given using an excel function would be preferential. If not, the shown work for the

Calculate the cash proceeds using the given information. The answer given using an excel function would be preferential. If not, the shown work for the calculation of the answer would be fine.

Exercise 3: Johnston, Inc. sold 10-year bonds with a 6% coupon rate to yield 5%. The face value is $400,000 The bonds pay interest semi-annually. What is the amount of cash proceeds? (1 point) Answer: The cash proceeds are Your answer using PV and/or FV table factors

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