Estimating present value of the interest

Reference no: EM13151336

On January 1, 2010, Ellison Co. issued eight-year bonds with a face value of $1,000,000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are: The present value of the interest is

Reference no: EM13151336

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