On August 1, 2011, Bonnie purchased $21,500 of Huber Co.'s 18%, 16-year bonds at face...
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On August 1, 2011, Bonnie purchased $21,500 of Huber Co.'s 18%, 16-year bonds at face value. Huber Co. has paid the semiannual interest due on the bonds regularly. On August 1, 2019, market rates of interest had fallen to 16%, and Bonnie is considering selling the bonds. Use the present value tables (Table 6-4 and Table 6-5) (Round your PV factors to 4 decimal places.) Required: Calculate the market value of Bonnies bonds on August 1, 2019. (Round your answer to 2 decimal places.)
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