he selling price of this bond issue was?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 10EB: Piedmont Corporation issued $200,000 of 10-year bonds at par. The bonds have a stated rate of 6% and...
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When the market rate of interest was 12%, Halprin Corporation issued $334,000, 11%, 10-year bonds that pay interest annually. Use the present value tables below. The selling price of this bond issue was?

 

Present Value of 1
to Be Paid in the Future
Present Value of a Series of 1 Payments
to Be Paid in the Future
   

Periods

5%

6%

7%

10%

1

0.95238

0.94340

0.93458

0.90909

2

0.90703

0.89000

0.87344

0.82645

3

0.86384

0.83962

0.81630

0.75132

4

0.82270

0.79209

0.76290

0.68301

5

0.78353

0.74726

0.71299

0.62092

6

0.74622

0.70496

0.66634

0.56447

7

0.71068

0.66506

0.62275

0.51316

8

0.67684

0.62741

0.58201

0.46651

9

0.64461

0.59190

0.54393

0.42410

10

0.61391

0.55840

0.50835

0.38554

         

Periods

11.0%

11.5%

12.0%

12.5%

1

0.90090

0.89686

0.89286

0.88889

2

0.81162

0.80436

0.79719

0.79012

3

0.73119

0.72140

0.71178

0.70233

4

0.65873

0.64699

0.63552

0.62430

5

0.59345

0.58026

0.56743

0.55493

6

0.53464

0.52042

0.50663

0.49327

7

0.48166

0.46674

0.45235

0.43846

8

0.43393

0.41860

0.40388

0.38974

9

0.39093

0.37543

0.36061

0.34644

10

0.35218

0.33671

0.32197

0.30795

Periods

5%

6%

7%

10%

1

0.95238

0.94340

0.93458

0.90909

2

1.85941

1.83339

1.80802

1.73554

3

2.72325

2.67301

2.62432

2.48685

4

3.54595

3.46511

3.38721

3.16987

5

4.32948

4.21236

4.10020

3.79079

6

5.07569

4.91732

4.76654

4.35526

7

5.78637

5.58238

5.38929

4.86842

8

6.46321

6.20979

5.97130

5.33493

9

7.10782

6.80169

6.51523

5.75902

10

7.72174

7.36009

7.02358

6.14457

         

Periods

11%

11.5%

12%

12.5%

1

0.90090

0.89686

0.89286

0.88889

2

1.71252

1.70122

1.69005

1.67901

3

2.44372

2.42262

2.40183

2.38134

4

3.10245

3.06961

3.03735

3.00564

5

3.69590

3.64988

3.60478

3.56057

6

4.23054

4.17029

4.11141

4.05384

7

4.71220

4.63704

4.56376

4.49230

8

5.14612

5.05564

4.96764

4.88205

9

5.53705

5.43106

5.32825

5.22849

10

5.88923

5.76777

5.65022

5.53643

 

a.$1,899,003
b.$333,998
c.$315,127
d.$1,979,942
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