On December 31, 2024, a company issued 6% stated rate bonds with a face amount of $104 million. The bonds mature on December 31, 2054. Interest is payable annually on each December 31, beginning in 2025. Determine the price of the bonds on December 31, 2024, assuming that the market rate of interest for similar bonds was 7%. Note: Use tables, Excel, or a financial calculator. Enter your answers in whole dollars and not in millions. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Time values are based on: 30 n = j = 7% Cash Flow Amount Present Value Interest Principal Price of bonds

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Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.