Micro Company wishes to issue $400,000 of 5-year, 6% bonds, with interest paid annually at the end of the year. The market rate of interest is currently 5%. What information is needed in order to determine the selling price?
a. The market rate of interest, the stated rate of interest, the bond rating, and the bond life.
b. The face amount of the bonds, the stated rate of interest, the market rate of interest, and the bond life.
c. The life of the bonds, the market rate of interest, the bond rating, and the face amount of the bonds.
d. The face amount of the bonds, the market rate of interest, the purpose of the issue, and the bond life.
b
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