On January 1,Year 1,Kroger Corporation issued $10,000,000 of 8% bonds,due in five years with interest payable annually on December 31.The market yield rate is 9 percent.Calculate the present value (market value)of the bonds.

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The Answer of On January 1,Year 1,Kroger Corporation issued $10,000,000 of 8% bonds,due in five years with interest payable annually on December 31.The market yield rate is 9 percent.Calculate the present value (market value)of the bonds.

On January 1,Year 1,Kroger Corporation Issued $10,000,000 of 8% Bonds,due