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Hamilton Company issues $10,000,000, 6%, 5-year bonds dated January 1, 2012 on January 1, 2012. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 5%. What are the proceeds from the bond issue?

 

2.5%

3.0%

5.0%

6.0%

Present value of a single sum for 5 periods

.88385

.86261

.78353

.74726

Present value of a single sum for 10 periods

.78120

.74409

.61391

.55839

Present value of an annuity for 5 periods

4.64583

4.57971

4.32948

4.21236

Present value of an annuity for 10 periods

8.75206

8.53020

7.72173

7.36009

 

A.      10,437,618

B.      10,434,616

C.      10,000,000

D.      10,432, 988

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