On August 1, 2008, Bonnie purchased $21,000 of Huber Co.'s 14%, 14-year bonds at face...
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On August 1, 2008, Bonnie purchased $21,000 of Huber Co.'s 14%, 14-year bonds at face value. Huber Co. has paid the semiannual interest due on the bonds regularly. On August 1, 2016, market rates of interest had fallen to 12%, and Bonnie is considering selling the bonds. Use the present value tables. (Round your PV factors to 4 decimal places.) Required: Calculate the market value of Bonnies bonds on August 1, 2016.
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