Question: Seaside issues a bond that has a stated interest rate of 13%, face amount of $40,000, and is due in 8 years. Interest payments are

Seaside issues a bond that has a stated interest rate of 13%, face amount of $40,000, and is due in 8 years. Interest payments are made semi-annually. The market rate for this type of bond is 14%. What is the issue price of the bond? (FV of $1. pv of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice $53,549 $38.110 $60,829

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