Question: On May 1 , 2 0 2 3 , Cullumber Corporation, a publicly listed corporation, issued $ 1 9 3 , 9 0 0 of

On May 1,2023, Cullumber Corporation, a publicly listed corporation, issued $193,900

On May 1,2023, Cullumber Corporation, a publicly listed corporation, issued $193,900 of five-year, 8% bonds, with interest payable semi-annually on November 1 and May 1. The bonds were issued to yield a market interest rate of 6%. Cullumber uses the effective interest method.
Calculate the present value (issue price) of the bonds on May(1) using the factor tables.
of five-year, 8% bonds, with interest payable semi-annually on November 1 and

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