On February 1, 2013, Cromley Motor Products issued 8% bonds,


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On February 1, 2013, Cromley Motor Products issued 8% bonds, dated February 1, with a face amount of $75 million. The bonds mature on January 31, 2017 (4 years). The market yield for bonds of similar risk and maturity was 10%. Interest is paid semiannually on July 31 and January 31. Barnwell Industries acquired $75,000 of the bonds as a long-term investment. The fiscal years of both firms end December 31. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) ATTACHMENT PREVIEW Download attachment doc04979220140306101623.pdf vanessasan1224
posted a question ยท Mar 06, 2014 at 8:09am

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