Question: Ellis issues 7.0%, five-year bond dated January 1, 2017, with a $450,000 par value. The bonds pay interest on June 30 and December 31 and

Ellis issues 7.0%, five-year bond dated January 1, 2017, with a $450,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $469,196. The annual market rate is 6% on the issue date

Ellis issues 7.0%, five-year bond dated January 1, 2017, with a $450,000

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