For the next 3 Questions: Round your answer to the nearest dollar, such as 12345. (No need to write $ as $ is already in

[answerhappygod]

For the next 3 Questions:
Round your answer to the nearest
dollar, such as 12345. (No need to write $ as $ is
already in front of the box.) (Allowance is set + or -
$1.)
Use the effective interest rate method.
The following information pertains to a bond issue of the
VWX Corporation:
Maturity value: $1,000,000
Maturity date: December 31, 2023
Stated interest rate (Coupon rate): 5.25%
Interest payments are made annually on December
31st
Date of issue: January 1, 2016
Effective (market) interest rate (Yield to maturity) at
issue: 4.75%
VWX financed $Answer by this bond issue on January 1, 2016.
(Assume there was no expenses on issuing the bond.)