Randell Company issues 7%, 10-year bonds with a par value of $150,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8%, which implies a selling price of 93¼. The straight-line method is used to allocate interest expense. Use the present value Table B.1 and Table B.3. (Round "PV Factor" to 4 decimal places. Round your answers to the nearest dollar amount. Omit the "$" sign in your response.) Note: Due to rounding of "PV Factor" there will be some dollar value difference between answer obtained for Bond's cash proceeds and Present value of price of bond.

Cash Flow Present Value
Par (maturity) value $
Interest payment
Price of bond $

Read the rules...

Read this first: Expectations for the Homework Help board
Do not simply retype or paste a question from your book or study material

We won't do your homework questions for you.
You were given the assignment for you to learn.

If you come up with your own answer and post it for us to critique that is within reason.

If you have some SPECIFIC questions that you couldn't find or didn't understand, we may help with that.
But this is your assignment, so show us you have at least attempted to complete it on your own.

Thank you.