William Inc produces and sells Electric sewing machine. On July 1,2016. William Inc issued $20,000,000 10year, 10%
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William Inc produces and sells Electric sewing machine. On July 1,2016. William Inc issued $20,000,000 10year, 10% bonds at a market (Effective) interest rate of 9% receiving cash of $21,951,110. Interest on the bond is payable semi- annually on December 31 and June 30. The fiscal year of the company is the calendar year. Calculate the total cash paid to investors over the life of the bond.
Related Book For
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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