Bonita Industries issues $20900000 of 10-year, 9% bonds on March 1, 2017 at 96 plus accrued...
Bonita Industries issues $20900000 of 10-year, 9% bonds on March 1, 2017 at 96 plus accrued interest. The bonds are dated January 1, 2017, and pay interest on June 30 and December 31. What is the total cash received on the issue date?
a)$20064000
b)$21161250
c)$19777500
d)$20377500
Homework Answers
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Cash received on the issue date = 20900000 * 96% = 20064000 Option A is the answer |
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| Comment if you face any issues |
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