Reference no: EM13789125
On January 1, 2010, Ellison Co. issued 8-year bonds with a face value of $1,000,000 and a stated interest rate of 6%, payable semi annually on June 30 and December 31. The bonds were sold to yield 8%. Table values are as follows:
Present value of one for eight periods at 6% .627
Present value of one for eight periods at 8% .540
Present value of one for 16 periods at 3% .623
Present value of one for 16 periods at 4% .534
Present value of annuity for eight periods at 6% 6.210
Present value of annuity for eight periods at 8% 5.747
Present value of annuity for 16 periods at 3% 12.561
Present value of annuity for 16 periods at 4% 11.652
The present value of the principal is
$534,000.
$540,000.
$623,000.
$627,000.
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