Question: Please answer Present Value of Bonds Payable; Premium Moss Co. issued $105,000 of five-year, 12% bonds with interest payable semiannually, at a market (effective) interest

Please answer Present Value of Bonds Payable; Premium Moss Co. issued $105,000

Please answer

Present Value of Bonds Payable; Premium Moss Co. issued $105,000 of five-year, 12% bonds with interest payable semiannually, at a market (effective) interest rate of 11%. Determine the present value of the bonds payable using the present value tables in Exhibit 8 and Exhibit 10. Round to the nearest dollar. X Feedback Check My Work Remember, the selling price of a bond is the sum of the present values of: the face amount of the bonds due at the maturity date and the periodic interest to be paid on the bonds. The market rate of interest is used to compute the present value of both the face amount and the periodic interest

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