Question: SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. 1 . On January 1 , 2018, Mania Enterprises
SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. 1 . On January 1 , 2018, Mania Enterprises issued 12% bonds dated January 1, 2018, with a face amount of S30 million. The bonds mature in 2027 ( 10 years). For bonds of similar risk and maturity, the market yield is 10%. Interest is paid semiannually on June 30 and December 31. (FV of $1, PV of $1, FVA of$1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Determine the price of the bonds at January 1, 2018. (Enter your answer in whole dollars.)
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