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On January 2, 2007, Yenn Corporation Wishes to Issue $2,000,000

question 83

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On January 2, 2007, Yenn Corporation wishes to issue $2,000,000 (par value) of its 8%, 10-year bonds.The bonds pay interest annually on January 1.The current yield rate on such bonds is 10%.Using the interest factors below, compute the amount that Yenn will realize from the sale (issuance) of the bonds. Present value of 1 at 8% for 10 periods 0.4632Present value of 1 at 10% for 10 periods 0.3855 Present value of an ordinary annuity at 8% for 10 periods 6.7101 Present value of an ordinary annuity at 10% for 10 periods6.1446\begin{array} { l } \text {Present value of 1 at \( 8 \% \) for 10 periods }&0.4632\\ \text {Present value of 1 at \( 10 \% \) for 10 periods }&0.3855\\ \text { Present value of an ordinary annuity at \( 8 \% \) for 10 periods }&6.7101\\ \text { Present value of an ordinary annuity at \( 10 \% \) for 10 periods}&6.1446\\\end{array}


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