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On January 1, 2019, Jason Company issued $4.1 million of 8-year bonds at a 8%...

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Accounting

On January 1, 2019, Jason Company issued $4.1 million of 8-year bonds at a 8% coupon interest rate to be paid annually. The following present value factors have been provided: Time Period Interest PV of $1 PV of a $1 Annuity 8 8% 0.540 5.747 8 6% 0.627 6.210 8 10% 0.467 5.335 What was the issuance price of the bonds if the market rate of interest was 6%?

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