Current Attempt in Progress

On May $1,2023,$ Blossom Corporation, a publicly listed corporation, issued $$150,000$ of five$-$year, $8\%$ bonds, with interest payable

semi$-$annually on November $1$ and May $1.$ The bonds were issued to yield a market interest rate of $6\%.$ Blossom uses the effective

interest method.

Click here to view the factor table PRESENT VALUE OF $1.$

Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF $1.$

$($a$)$

Calculate the present value $($issue price$)$ of the bonds on May $1(1)$ using the factor tables provided $(2)$ a financial calculator, or $(3)$

Excel function PV$.($Hint: Refer to Chapter $3$ for tips on calculating.$)($Round present value factor calculations to $5$ decimal places, e$.$g$.$

$1\mathrm{.}25124$ and final answer to $0$ decimal places e$.$g$.58,971.)$

Present value of the bonds $