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