Using the present value tables table 6-4 and table 6-5

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Reference no: EM13600345

On March 1, 2005, Sally purchased $60,000 of Glitter Co.'s 5%, 17-year bonds at face value. Glitter Co. has paid the annual interest due on the bonds regularly. On March 1, 2010, market interest rates had risen to 9%, and Sally is considering selling the bonds.

Required:
Using the present value tables (Table 6-4 and Table 6-5), calculate the market value of Sally's bonds on March 1, 2010. (Round pv factor to 4 decimal places and the final answer to 2 decimal places.

Reference no: EM13600345

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