Present value of 1 for eight periods at 6% .627
Present value of 1 for eight periods at 8% .540
Present value of 1 for 16 periods at 3% .623
Present value of 1 for 16 periods at 4% .534
Present value of annuity for eight periods at 6% 6.210
Present value of annuity for eight periods at 8% 5.747
Present value of annuity for 16 periods at 3% 12.561
Present value of annuity for 16 periods at 4% 11.652
The issue price of the bonds is
Question 14. Question : (TCO D) A company issues $20,000,000,
7.8%, 20-year bonds to yield 8% on January 1, 2010. Interest is paid
on June 30 and December 31. The proceeds from the bonds are
$19,604,145. What is the interest expense for 2011, using straight-
line amortization?