Present value of the bonds payable

Reference no: EM13142310

Caps Co. produces and sells bottle capping equipment for soft drink and spring water bottlers. To finance its operations, Caps Co. issued $20,000,000 of five-year, 9% bonds with interest payable semiannually at an effective interest rate of 10%.

Determine the present value of the bonds payable, using the present value tables in the above Exhibits. Round to the nearest dollar.

Reference no: EM13142310

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