On April 1 , 2 0 2 3 , ET Inc. has available for issue $ 3

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Question:

On April

1, 2023,

ET Inc. has available for issue $

355, 000

bonds due in four years. Interest at the rate of

5.0 %

is to be paid quarterly. Calculate the issue price if the market interest rate is:

(

Do not round intermediate calculations. Round the final answers to the nearest whole dollar.

)

Related Book For answer-question

Fundamental Accounting Principles Volume 2

ISBN: 9781260881332

17th Canadian Edition

Authors: Kermit D. Larson, Heidi Dieckmann, John Harris

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Posted Date: Apr 21, 2024 04:12 AM

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On April 1 , 2 0 2 3 , ET Inc. has available for issue $ 3

Question:

Expert Answer:

To calculate the issue price of the bonds we need to use the present value of an annuity formula The ... View the full answer

Fundamental Accounting Principles Volume 2

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