Calculate the pv of the remaining payments

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Reference no: EM131263875

Assume that Federal has already recorded its 2014 interest payment and the fair value of the bonds on December 31, 2014 had dropped to $91.200 million. Calculate the PV of the remaining payments (CV of B/P) as of December 31, 2014 and prepare the journal entry to adjust the bonds to their fair value for presentation on the December 31, 2014 balance sheet.

Reference no: EM131263875

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