Pinder Co. produces and sells high-quality video equipment. To finance its operations, Pinder issued $25,000,000 of five-year, 7% bonds, with interest payable semiannually, at a market (effective) interest rate of 9%.
Determine the present value of the bonds payable, using the present value tables in Exhibit 5 and Exhibit 7. Round to the nearest dollar.
Present value of the bonds payable = Present value of interest payable @4.5%, 10 years + Present value of maturtity value @4.5%, 10 years
= 25000000*7%*6/12* 7.91272 + 25000000*0.64393
= $6923630 + 16098250
= $23021880
Pinder Co. produces and sells high-quality video equipment. To finance its operations, Pinder issued $25,000,000 of...
Present Value of Bonds Payable; Discount Pinder Co. produces and sells high-quality video equipment. To finance its operations, Pinder Co. issued $25,000,000 of five-year, 7% bonds, with interest payable semiannually, at a market (effective) interest rate of 9%. Determine the present value of the bonds payable, using the present value tables in Exhibit 8 and Exhibit 10. Round to the nearest dollar. $
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