Question - On January 1, 1990, Rogers, Inc issues $5,000,000 in bonds with a stated rate of 8%. The bonds mature in 5 years with interest (coupon) paid quarterly: Mar 31, Jun 30, Sep 30, and Dec 31. The bonds issued were when market rate was 12%.
1. Calculate the information necessary to fill in the following table (round to the nearest $):
Note that this is not a complete amortization table. Just fill in the necessary information. Pay close attention to the dates
2. Rogers, Inc retires the bonds on 9/30/1990 after the interest payment. Calculate the gains or losses from early retirement of bonds when Rogers, Inc repurchased the bonds from the market for $4,200,000.