Question: On January 1 , 2 0 2 7 , Crane Industries Inc. issued $ 5 , 1 0 0 , 0 0 0 , 8

On January 1,2027, Crane Industries Inc. issued $5,100,000,8% bonds. Interest is payable semi-annually on June 30 and December 31. The bonds mature on January 1,2034. The bonds are sold to yield 12%.1. Calculate the issue price of the bonds. Round factor values calculations to 5 decimal places, and final answer to 0 decimal places. 2. Prepare the amortization table for the first year, assuming the effective interest method is used to calculate interest.

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