1. Kirby Railroad Co. is about to issue $300,000 of 10-year bonds paying a 9%...
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Accounting
1. Kirby Railroad Co. is about to issue $300,000 of 10-year bonds paying a 9% interest rate, with interest payable semiannually. The discount rate for such securities is 8%.
How much can Kirby expect to receive for the sale of these bonds?
Future Value of 1: 1.16640
Future Value of an Annuity of 1: 2.08000
Present Value of 1: .85734
Present Value of an Annuity of 1: 1.78326
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