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  3. on january 1, 2017, oriole company issued eight-ye

On January 1, 2017, Oriole Company issued eight-year bonds with a face value of $...

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Accounting

On January 1, 2017, Oriole Company issued eight-year bonds with a face value of $ 6100000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are: Present value of 1 for 8 periods at 6% 0.627 Present value of 1 for 8 periods at 8% 0.540 Present value of 1 for 16 periods at 3% 0.623 Present value of 1 for 16 periods at 4% 0.534 Present value of annuity for 8 periods at 6% 6.210 Present value of annuity for 8 periods at 8% 5.747 Present value of annuity for 16 periods at 3% 12.561 Present value of annuity for 16 periods at 4% 11.652 The present value of the interest is

a $ 2272860. b $ 2103402. c $ 2298663. d $ 2132316.

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