Use the following information to determine the Prior Year and Current Year trend percents for net sales using the Prior Year as
the base year. (Enter the answers in thousands of dollars.)
($ thousands) Current Year Prior Yea
Net sales $ 689,520 $ 338,000
Cost of goods sold 337,864 100,048
($ thousands) Current Year Prior Yea
Net sales $ 689,520 $ 338,000
Cost of goods sold 337,864 100,048
1 answer:
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Answer:
Price of the bond is $104,236,860.
Explanation:
Given:
Coupon rate is 6% or 0.06
Face value = $119,000,000
Coupon payment each year = 0.06×119,000,000
= $7,140,000
Yield to maturity = 7% or 0.007
Maturity period = 30 years
Price of bond = Present value of face value + present value of coupon payment (annuity)
Price of bond =
PV of $1 for 7%,30 periods = 0.1314
PVA of $1 for 7%,30 periods = 12.409
Substitute the values in above formula:
Price of bond = (119,000,000 × 0.1314) + (7,140,000 × 12.409)
= 15,636,600 + 88,600,260
= $104,236,860
There will be slight difference in final answer as present value table is used. Excel spreadsheet gives an accurate answer.
So, price of bond is $104,236,860