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Determine the selling price of these bonds

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Reference no: EM133077068

Question - On January 1, Dallas Corp. issued $600,000, 12% APR, 5-year bonds with interest payable on July 1 and January 1. The market rate of interest was 10% APR. The present value factors are given below:

PV of $1

5%

6%

10%

12%

n = 5

.7835

.7473

.6209

.5674

n=10

.6139

.5584

.3855

.3220

PVOA

 

 

 

 

n=5

4.3295

4.2124

3.7908

3.6048

n=10

7.7217

7.3601

6.1446

5.6502

Required - Determine the selling price of these bonds.

a. $509,009

b. $600,000

c. $633,304

d. $646,321

Reference no: EM133077068

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