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