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Accounting: What the numbers mean 11th edition, Chapter 7, E.7.16 Bonds payable - Calculate market...

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Accounting

Accounting: What the numbers mean 11th edition, Chapter 7, E.7.16

Bonds payable - Calculate market value On March 1, 2011, Catherine purchased $90,000 of Tyson's Co.'s 10%, 20- year bonds at face value. Tyson Co. has regularly paid the annual interest due on the bonds. On march 1, 2016, market interest rates had risen to 12%, and Catherine is considering selling the bonds.

Using the present Value tables in Chapter 6, calculate the market value of Catherines bonds on March 1, 2016.

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