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Compute the present value of the remaining cash flows

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Ellis issues 6.5%, five-year bonds dated January 1, 2015, with a $460,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $469,812. The annual market rate is 6% on the issue date. (Table B.1, Table B.2, Table B.3, and Table B.4) (Use appropriate factor(s) from the tables provided.)

Use the market rate at issuance to compute the present value of the remaining cash flows for these bonds as of December 31, 2017. (Round table values to 4 decimal places, and use rounded values in all calculations.)

Reference no: EM131794827

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