Stevens Company is about to issue $400,000 of 10-year bonds paying an 8% interest rate with interest payable semiannually. The effective interest rate for such securities is 10%. Below are available time value of money factors that Stevens chooses from to calculate compounded interest.

\begin{array}{|l|l|l|l|l|}\hline &10 \text { periods, } & 20 \text { periods, } & 10 \text { periods, } & 20 \text { periods, } \\&8 \% & 4 \% & 10 \% & 5 \%\\\hline \text { Present Value of 1 } & 0.46319 & 0.45639 & 0.38554 & 0.37689 \\\hline \text { Future Value of 1 } & 2.15892 & 2.19112 & 2.59374 & 2.65330 \\\hline \begin{array}{l}\text { Present Value of an } \\\text { Annuity of 1 }\end{array} & 6.71008 & 13.59033 & 6.14457 & 12.46221 \\\hline \begin{array}{l}\text { Future Value of an } \\\text { Annuity of 1 }\end{array} & 14.48656 & 29.77808 & 15.93743 & 33.06595 \\\hline\end{array}

To the closest dollar, how much can Stevens expect to receive for the sale of these bonds?
A)$350,151
B)$292,637
C)$800,000
D)$1,405,503

On January 1, 2016, Action Corporation Issued a Two-Year, 5

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Correct Answer:Verified$50 x 1.913 = $96$1...View AnswerUnlock this answer nowGet Access to more Verified Answers free of chargeView Full Answer For Free

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$50 x 1.913 = $96
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