I\'m not sure if I\'m doing this correctly. What do I do to solve for PV factors

Question

I'm not sure if I'm doing this correctly. What do I do to solve for PV factors used, PV face, and PV interest?

The company could issue $1,500,000 of long-term bonds, due in 4 years with a stated rate of interest, paid semiannually, of 8%. The market rate for similar debt is 6%. Cash Received Annual Cash Required Face amount              1,500,000 Face rate 8% Interest Payment periods 8 Interest Payment                      60,000 Term 4 Market rate 6% PV factors used single sum 0.79 annuity PV face        1,184,113.85 PV interest

Explanation / Answer

Cash received 1606200 Annual cash required: $60,000 Face Amount 1,500,000 Face rate 8% Interest payment period 8 Interest payments 60,000 Term 4 Market rate 6% PV factor Single sum 0.79 Annuity 7.02 PV face value 1185000 (1500,000*0.79) PV Interest 421200 (60,000*7.02)

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