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 1to Be Paid in the FuturePresent Value of a Series of 1 Paymentsto Be Paid in the Future Periods5%6%7%10%10.952380.943400.934580.9090920.907030.890000.873440.8264530.863840.839620.816300.7513240.822700.792090.762900.6830150.783530.747260.712990.6209260.746220.704960.666340.5644770.710680.665060.622750.5131680.676840.627410.582010.4665190.644610.591900.543930.42410100.613910.558400.508350.38554 Periods11.0%11.5%12.0%12.5%10.900900.896860.892860.8888920.811620.804360.797190.7901230.731190.721400.711780.7023340.658730.646990.635520.6243050.593450.580260.567430.5549360.534640.520420.506630.4932770.481660.466740.452350.4384680.433930.418600.403880.3897490.390930.375430.360610.34644100.352180.336710.321970.30795Periods5%6%7%10%10.952380.943400.934580.9090921.859411.833391.808021.7355432.723252.673012.624322.4868543.545953.465113.387213.1698754.329484.212364.100203.7907965.075694.917324.766544.3552675.786375.582385.389294.8684286.463216.209795.971305.3349397.107826.801696.515235.75902107.721747.360097.023586.14457 Periods11%11.5%12%12.5%10.900900.896860.892860.8888921.712521.701221.690051.6790132.443722.422622.401832.3813443.102453.069613.037353.0056453.695903.649883.604783.5605764.230544.170294.111414.0538474.712204.637044.563764.4923085.146125.055644.967644.8820595.537055.431065.328255.22849105.889235.767775.650225.53643 a.$1,899,003b.$333,998c.$315,127d.$1,979,942

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Answered: he selling price of this bond issue…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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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