Question: On January 1 , 2 0 2 3 , Malinois Inc. issued $ 1 0 0 , 0 0 0 of 6 % bonds,

 

On January 1, 2023, Malinois Inc. issued $100,000 of 6% bonds, dated January 1.

Interest is payable semiannually on June 30 and December 31. The bonds mature in 10

years. The annual market rate for bonds of similar risk and maturity is 8%. What was

the issue price of the bonds?

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