Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall

Exercise 5

Bonds payable-calculate market value On March 1, 2011, Catherine purchased $90,000 of Tyson Co.'s 10%, 20-year bonds at face value. Tyson Co. has regularly paid the annual interest due on the bonds. On March 1, 2016, market interest rates had risen to 12%, and Catherine is considering selling the bonds.
Required:
Using the present value tables in Chapter 6, calculate the market value of Catherine's bonds on March 1, 2016.