Kingbird Corporation issues $530,000 of 9% bonds, due in 10 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%. Click here to view factor tables. Compute the issue price of the bonds. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and the final answer to d decimal places, eg. 58,971.) Issue price of the bonds $
Kingbird Corporation issues $530,000 of 9% bonds, due in 10 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%. Click here to view factor tables. Compute the issue price of the bonds. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and the final answer to d decimal places, eg. 58,971.) Issue price of the bonds $
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 4EA: On January 1, 2018, Wawatosa Inc. issued 5-year bonds with a face value of $200,000 and a stated...
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![Kingbird Corporation issues $530,000 of 9% bonds, due in 10 years, with interest payable semiannually. At the time of issue, the
market rate for such bonds is 10%.
Click here to view factor tables.
Compute the issue price of the bonds. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and the final answer to d
decimal places, eg. 58,971.)
Issue price of the bonds
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd981a1dc-eebc-4e77-8c2b-09e7591e2d7d%2Fcb6ec56d-dd7d-4c3d-9323-6b80f77dd02e%2F2n8up8o_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Kingbird Corporation issues $530,000 of 9% bonds, due in 10 years, with interest payable semiannually. At the time of issue, the
market rate for such bonds is 10%.
Click here to view factor tables.
Compute the issue price of the bonds. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and the final answer to d
decimal places, eg. 58,971.)
Issue price of the bonds
$
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