Question: Please show your work so I can understand how you got the answer. Present Value of Bonds Payable; Premium Moss Co. issued $42,000,000 of five-year,

Please show your work so I can understand how you got the answer.

the answer. Present Value of Bonds Payable; Premium Moss Co. issued $42,000,000

of five-year, 11% bonds, with interest payable semiannually, at a market (effective)

interest rate of 9%. Determine the present value of the bonds payable

using the present value tables in Exhibit 5 and Exhibit 7. Round

Present Value of Bonds Payable; Premium Moss Co. issued $42,000,000 of five-year, 11% bonds, with interest payable semiannually, at a market (effective) interest rate of 9%. Determine the present value of the bonds payable using the present value tables in Exhibit 5 and Exhibit 7. Round to the nearest dollar

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