Mason Co. issued $680,000 of four-year, 12% bonds with interest payable semiannu

Question

Mason Co. issued $680,000 of four-year, 12% bonds with interest payable semiannually, at a market (effective) interest rate of 11%.

EXHIBIT 4 Present Value of $1 at Compound Interest ANI-No 10% 0.90909 0.82645 13% 11% 0.90090 0.81162 Periods 4% 0.96154 0.956940 0.92456 0.915730 5% 0.95238 0.90703 51/2% 0.94787 0.89845 6% 0.94340 0.89000 7% 0.93458 0.87344 12% 0.89286 0.79719 0.88496 0.78315 0.88900 0.876300 0.86384 0.85161 0.83962 0.81630 0.75 131 0.73119 0.71178 0.69305 0.61332 0.54276 0.79031 0.767900 0.74622 0.72525 0.70496 0.66634 0.56447 0.53464 0.50663 0.48032 0.42506 0.37616 0.33288 0.29459 0.80722 0.76513 0.76290 0.71299 0.68301 0.62092 4 0.85480 0.838560 0.82193 0.802450 0.79209 0.74726 0.65873 0.59345 0.63552 0.56743 0.82270 0.78353 6 0.75992 0.734830 0.73069 0.703190 0.70259 0.672900 0.67556 0.643930 0.71068 0.67684 0.64461 0.61391 0.68744 0.65160 0.61763 0.58543 0.66506 0.62741 0.59190 0.55839 0.62275 0.58201 0.54393 0.50835 0.51316 0.46651 0.42410 0.38554 0.48166 0.43393 0.39092 0.35218 0.45235 0.40388 0.36061 0.32197 8

Explanation / Answer

Mason Co. issued $680,000 of four-year, 12% bonds with interest payable semiannu

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