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The following information pertains to Braves Company issuance of bonds on July 1, 2016. Face amount - P1,000,000; Term - 10 years; Stated interest rate - 8%; interest payment dates - July 1 and January 1; Effective yield - 12%. At 4% At 6% Present value of an ordinary annuity of P1 for 10 periods 8.11 7.36 Present value of an ordinary annuity of P1 for 20 periods 13.59 11.47 Present value of P1 for 10 periods 0.68 0.56 Present value of P1 for 20 periods 0.46 0.31 The following information pertains to Braves Company issuance of bonds on July 1, 2016. Face amount - P1,000,000; Term - 10 years; Stated interest rate - 8%; interest payment dates - July 1 and January 1: Effective yield - 12%. At 4% At 6% Present value of an ordinary annuity of P1 for 10 periods 8.11 7.36 Present value of an ordinary annuity of P1 for 20 periods 13.59 11.47 Present value of P1 for 10 periods 0.68 0.56 Present value of P1 for 20 periods 0.46 0.31 At 8% At 12% Present value of an ordinary annuity of P1 for 10 periods 6.71 6.14 Present value of an ordinary annuity of P1 for 20 periods 9.82 8.51 Present value of P1 for 10 periods 0.46 0.56 Present value of P1 for 20 periods 0.21 0.31 What should be the total issue price of the bonds? 763.800 229 400 B15 10 400 657600

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