Use the Following to Answer Questions

Essay

Use the following to answer questions
The note about debt included in the financial statements of Healdsburg Company for the year ended December 31,2015 disclosed the following:
Debt.The following table summarizes the long-term debt of the Company at December 31,2015.All of the notes were issued at their face (maturity)value.
Required: Assuming that the notes pay interest annually and mature on December 31 of the respective years,compute the following:
-Suppose that Healdsburg renegotiates the 8% notes on December 31,2021,when the going interest rate is 8%.Healdsburg agrees to make 12 equal annual installments,commencing on December 31,2022,rather than pay the annual interest payments and the $225 million in a lump sum at maturity.What would the annual payments be?