Business, 24.05.2021 14:00 6710000831

On January 1, year 1, Boston Group issued $100,000 par value, 5% five-year bonds when the market rate of interest was 8%. Interest is payable annually on December 31. The following present value information is available: 5% 8%
Present value of $1 (n=5) 0.78353 0.68058
Present value of an ordinary annuity (n =5) 4.32948 3.99271

Required:
What amount is the value of net bonds payable at the end of year 1?

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On January 1, year 1, Boston Group issued $100,000 par value, 5% five-year bonds when the market rat...

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