Required information
The following information applies to the questions displayed below.
On January Learned, Incorporated, issued $ million face amount of year, stated rate bonds when
market interest rates were The bonds pay interest semiannually each June and December and mature on
December Table Table
Note: Use appropriate factor from the table provided.
Required:
a Calculate the proceeds issue price of Learned Incorporated's, bonds on January assuming that the bonds were sold to
provide a market rate of return to the investor.
Note: Round PV factor to decimal places. Enter your answers in dollars, rather than in millions of dollars.
