Question: d. no necessary relationship exists between the two rates. Use the following information for questions 4 through 6: On January 1, 2010, Ellison Co.

d. no necessary relationship exists between the two rates. Use the following

d. no necessary relationship exists between the two rates. Use the following information for questions 4 through 6: On January 1, 2010, Ellison Co. issued eight-year bonds with a face value of $1,000,000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are: Present value of 1 for 8 periods at 6% Present value of 1 for 8 periods at 8% Present value of 1 for 16 periods at 3% Present value of 1 for 16 periods at 4% Present value of annuity for 8 periods at 6% Present value of annuity for 8 periods at 8% Present value of annuity for 16 periods at 3% Present value of annuity for 16 periods at 4% The present value of the principal is a. b. $534,000. .627 .540 .623 .534 6.210 5.747 12.561 11.652 $540,000. C. $623,000. d. $627,000. The present value of the interest is $344,820. a. b. $349,560. C. $372,600. d. $376,830. 12

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