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On March 1, 2011, Catherine purchased $60,000 of Tyson Co.'s 4%, 17-year bonds at face...

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Accounting

On March 1, 2011, Catherine purchased $60,000 of Tyson Co.'s 4%, 17-year bonds at face value. Tyson Co. has regularly paid the annual interest due on the bonds. On March 1, 2016, market interest rates had risen to 8%, and Catherine is considering selling the bonds. Use present value tables (Table 6-4 and Table 6-5) (Round your PV factors to 4 decimal places.)

Required:

Calculate the market value of Catherines bonds on March 1, 2016. (Round your answer to 2 decimal places.)

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