On September 30, 2016, the San Fillipo Corporation issued 8% stated rate bonds with a...
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| On September 30, 2016, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $180 million. The bonds mature on September 30, 2036 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) |
| Required: |
| Determine the price of the bonds on September 30, 2016. Table values are based on: n =? i=? Cash flow:.Amount:.......Present Value: interest: $?............................$? Principal: $?..........................$? Price of Bond:........................$? |
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