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Brief Exercise 14-3 Determining the price of bonds [LO14-2] A company issued 6%, 15-year bonds...

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Accounting

Brief Exercise 14-3 Determining the price of bonds [LO14-2] A company issued 6%, 15-year bonds with a face amount of $85 million. The market yield for bonds of similar risk and maturity is 6%. Interest is paid semiannually. At what price did the bonds sell? (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) rev: 02_13_2013_QC_26032

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