On January 1, 2024, Oriole Co. issued eight-year bonds with a face value of $5940000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 12%. Table values are: Present value of 1 for 8 periods at 10% Present value of 1 for 8 periods at 12% Present value of 1 for 16 periods at 5% Present value of 1 for 16 periods at 6% Present value of annuity for 8 periods at 10% Present value of annuity for 8 periods at 12% Present value of annuity for 16 periods at 5% Present value of annuity for 16 periods at 6% The present value of the principal is O $2771069. O $2338281 O $2721173 O $2399047. 0.46651 0.40388 0.45811 0.39365 5.33493 4.96764 10.83777 10.10590

On January 1, 2024, Oriole Co. issued eight-year bonds with a face value of $5940000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 12%. Table values are: Present value of 1 for 8 periods at 10% Present value of 1 for 8 periods at 12% Present value of 1 for 16 periods at 5% Present value of 1 for 16 periods at 6% Present value of annuity for 8 periods at 10% Present value of annuity for 8 periods at 12% Present value of annuity for 16 periods at 5% Present value of annuity for 16 periods at 6% The present value of the principal is O $2771069. O $2338281 O $2721173 O $2399047. 0.46651 0.40388 0.45811 0.39365 5.33493 4.96764 10.83777 10.10590

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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