Hamilton company issues 10000000 6 5-year bonds dated, Accounting Basics

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Hamilton company issues 10000000 6 5-year bonds dated

Hamilton Company issues $10,000,000, 6%, 5-year bonds dated January 1, 2012 on January 1, 2012. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 5%. What are the proceeds from the bond issue?

	2.5%	3.0%	5.0%	6.0%
Present value of a single sum for 5 periods	.88385	.86261	.78353	.74726
Present value of a single sum for 10 periods	.78120	.74409	.61391	.55839
Present value of an annuity for 5 periods	4.64583	4.57971	4.32948	4.21236
Present value of an annuity for 10 periods	8.75206	8.53020	7.72173	7.36009

A. 10,437,618

B. 10,434,616

C. 10,000,000

D. 10,432, 988

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