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Kerr-Owens
Aug 25, 2008, 01:01 PM
To finance its operations, Caps Co. issued $20,000,000 of five-year, 9% bonds with interest payable semiannually at an effective interest rate of 10%.

Determine the present value of the bonds payable, using the present value tables in the above Exhibits. Round to the nearest dollar. Using the present value of $1 at compound interest and present value of annuity of $1 at compound interest?