Use the present value tables in the appendix on present value tables to calculate the issue price of a $300,000 bond issue in each of the following independent cases. Assume interest is paid semi-annually.
a. A 10-year, 8 per cent bond issue; the market interest rate is 10 per cent.
b. A 10-year, 8 per cent bond issue; the market interest rate is 6 per cent.
c. A 10-year, 10 per cent bond issue; the market interest rate is 8 per cent.
d. A 20-year, 10 per cent bond issue; the market interest rate is 12 per cent.
e. A 20-year, 10 per cent bond issue; the market interest rate is 6 per cent.
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