Answer Happy

Determining Bond Selling Price Calculate the bond selling price
for the three separate scenarios that follow. a. 33M Corp.
authorized and issued $60,000, 6%, 20-year bonds payable on January
1, 2020. Calculate the selling price of the bonds if the bonds pay
cash interest semiannually on July 1 and January 1, and the market
rate of interest on similar bonds is 8%. b. 33M Corp. authorized
and issued $150,000, 7%, 10-year bonds payable on January 1, 2020.
Calculate the selling price of the bonds if the bonds pay cash
interest semiannually on July 1 and January 1, and the market rate
of interest on similar bonds is 6%. c. 33M Corp. issued $45,000,
5%, 10-year bonds payable on March 31, 2020. The bonds were
authorized on January 1, 2020. Calculate the selling price of the
bonds (including interest) if the bonds pay cash interest annually
on January 1, beginning January 1, 2021, and the market rate of
interest on similar bonds is 6%.
Note: Round answers to the nearest whole dollar. a. b. c.