Present Value of Bonds Payable; Premium Moss Co. issued ( $ 42,000,000 ) of five-year, ( 11 % ) bonds, with interest payable semiannually, at a market (effective) interest rate of ( 9 % ). Determine the present value of the bonds payable using the present value tables in Exhibit 5 and Exhibit 7 . Round to the ne

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Present Value of Bonds Payable; Premium Moss Co. issued  (  $ 42,000,000  ) of five-year,  ( 11  %  ) bonds, with interest payable semiannually, at a market (effective) interest rate of  ( 9  %  ). Determine the present value of the bonds payable using the present value tables in Exhibit 5 and Exhibit 7 . Round to the nearest dollar.  Exhibit 5 Present Value of  (  $ 1  ) at Compound Interest  Exhibit 7 Present Value of an Annuity of  (  $ 1  ) at Compound Interest

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