Question: On January 1, a company issues bonds dated January 1 with a par value of $340,000 The bonds mature in 3 years. The contract rate

On January 1, a company issues bonds dated January 1 with a par value of $340,000 The bonds mature in 3 years. The contract rate is 9%, and interest is paid semiannually on June 30 and December 31 The market rate is 10%. Using the present value factors below, the issue (selling price of the bonds is. no 3 6 3 6 is 9.0% 4.5% 10.0% 5.0% Present Value of an Annuity (series of payments) 2.5313 5.1579 2.4869 5.0757 Present value of 1 (single sun) 0.7722 0.7679 0.7513 0.7462 Multiple Choice $77.658 Multiple Choice $348,634 $77,658 $331366 G $253,708 $340,000

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