Windsor Inc. manufactures cycling equipment. Recently, the company's vicepresident of operations has requested construction of a
new plant to meet the increasing demand for the company's bikes. After a careful evaluation of the request, the board of directors has
decided to raise funds for the new plant by issuing $ of term corporate bonds on March due on March
with interest payable each March and September At the time of issuance, the market interest rate for similar financial instruments
is
a
Your answer is incorrect.
As Windsor's controller, determine the selling price of the bonds. Round present value factor calculations to decimal places, eg
and final answer to decimal places, eg
Click here to view the factor table PRESENT VALUE OF
Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF
Selling price of the bonds
