ACC 304 Final Exam Part 2( 2 Sets) For more course tutorials visit www. tutorialrank. com
25) Which of the following features of preferred stock makes it more like a debt than an equity instrum
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ACC 304 Final Exam Part 2( 2 Sets) For more course tutorials visit www. tutorialrank. com
1) On January 1, 2015, Piper Co. issued ten-year bonds with a face value of $ 3,000,000 and a stated interest rate of 10 %, payable semiannually on June 30 and December 31. The bonds were sold to yield 12 %. Table values are:
Present value of 1 for 10 periods at 10 %. 386
Present value of 1 for 10 periods at 12 %. 322
Present value of 1 for 20 periods at 5 %. 377
Present value of 1 for 20 periods at 6 %. 312
Present value of annuity for 10 periods at 10 % 6.145