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How much cash does power receive when the bond is issued

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Reference no: EM132617446

Power Solutions Ltd. issues a $19,500,000, five-year, 4.5% bond with semi-annual interest payments. Underwriting costs, paid up front, are $1,248,000. The bond sells at par.

Required:

Problem 1. How much cash does Power receive when the bond is issued?

Problem 2. What is the effective interest rate on the bond? (Round your answer to the nearest whole percentage.)

Problem ??3. Prepare n amortization table using the effective-interest method of amortization. Complete the first four payments only. (Round your effective interest rate to the nearest whole percentage and your final answers to the nearest whole dollar.)

Reference no: EM132617446

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