Question: Determine the present value of five-year bonds payable with face value of $85,000 and stated interest rate of 12%, paid semiannually. The market rate of

Determine the present value of five-year bonds payable with face value of $85,000 and stated interest rate of 12%, paid semiannually. The market rate of interest is 12% at issuance. 2. Same bonds payable as in Requirement 1, but the market interest rate is 16%. 3. Same bonds payable as in Requirement 1, but the market interest rate is 8%.

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