Stellar Inc manufactures cycling equipment Recently the vice

Last updated: 4/1/2024

Stellar Inc manufactures cycling equipment Recently the vice president of operations of the company has requested construction of a new plant to meet the increasing demand for the company s bikes After a careful evaluation of the request the board of directors has decided to raise funds for the new plant by issuing 3 128 500 of 12 term corporate bonds on March 1 2020 due on March 1 2035 with interest payable each March 1 and September 1 with the first interest payment on September 1st 2020 At the time of issuance the market interest rate for similar financial instruments is 8 Click here to view factor tables As the controller of the company determine the selling price of the bonds Round factor values to 5 decimal places e g 1 25124 and final answer to O decimal places e g 458 581 Selling price of the bonds