Question: On June 30, 2016, Singleton Computers issued 8% stated rate bonds with a face amount of $100 million. The bonds mature on June 30, 2031

On June 30, 2016, Singleton Computers issued 8% stated rate bonds with a face amount of $100 million. The bonds mature on June 30, 2031 (15 years). The market rate of interest for similar bond issues was 7% (3.5% semiannual rate). Interest is paid semiannually (4.0%) on June 30 and December 31, beginning on December 31, 2016. (FV of $1,PV of $1,FVA of $1,PVA of $1,FVAD of $1andPVAD of $1)(Use appropriate factor(s) from the tables provided.)

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