Waterhouse company plans to issue 501000 10-year 10 percent

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Waterhouse Company plans to issue $501,000, 10-year, 10 percent bonds. Interest is paid semiannually on June 30 and December 31. All of the bonds will be sold on January 1, 2011. Determine the issuance price of the bonds, assuming a market yield of 6 percent. (Round "PV Factors" to 4 decimal places, intermediate calculations and final answer to the nearest whole dollar amount. Omit the "tiny_mce_markerquot; sign in your response.) Issuance price $ . .

Reference no: EM13612958

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