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On January 1, 2004, the Periot Company issued $500,000 bonds with a 10% stated ...

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Question

Accounting

On January 1, 2004, the Periot Company issued $500,000 bonds with a 10% stated

interest rate. The bonds pay interest on June 30 and December 31, and are due on

December 31, 2013.

Required:

1. Assume the bonds were sold to yield 12%. Determine the selling price of the bond. Round all calculations to the nearest dollar.

2. Assume the bonds were sold to yield 8%. Determine the selling price of the bond. Round all calculations to the nearest dollar.

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