Use the Following Information for Questions 60 Through 62

question 126

Multiple Choice

Use the following information for questions 60 through 62:
On January 1, 2014, Ellison Co. issued eight-year bonds with a face value of $4,000,000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are:
-The present value of the interest is

• A) $1,379,280.
• B) $1,398,240.
• C) $1,490,400.
• D) $1,507,320.

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Definitions:

Instrumental

Pertaining to actions or objects that serve as means to an end, often referring to the practical or functional use of something.

Expressive Roles

Roles associated with emotional support, nurturance, and maintaining interpersonal relationships within the family or group.

Social Learning Theory

A theory in psychology that proposes that new behaviors can be acquired by observing and imitating others.

Cognitive Development Theory

A theory that describes how human beings acquire, construct, and use knowledge as they grow and develop.