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?
Question 15. Question : (TCO D) On October 1, 2010, Bartley
Corporation issued 5%, 10-year bonds with a face value of $500,000
at 104. Interest is paid on October 1 and April 1, with any premiums
or discounts amortized on a straight-line basis.