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  3. on january 1, 2024, oriole issued $5,200,000, 6% b

On January 1, 2024, Oriole issued $5,200,000, 6% bonds. Interest is payable semi-annually on June...

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Accounting

On January 1, 2024, Oriole issued $5,200,000, 6% bonds. Interest is payable semi-annually on June 30 and December 31. The bonds mature on January 1, 2034. The bonds are sold to yield 12%.

(a) Calculate the issue price of the bonds. (Round factor values calculations to 5 decimal places, e.g. 2.55555 and final answer to O decimal places, e.g. 25,000.)

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