On January 1, 2016, Drennen, Inc., issued $3.1 million face amount of 12-year, 14% stated rate bonds when market interest rates were 12%.

On January 1, 2016, Drennen, Inc., issued $3.1 million face amount of 12-year, 14% stated rate bonds when market interest rates were 12%. The bonds pay semiannual interest each June 30 and December 31 and mature on December 31, 2027. Table 6-4, Table 6-5 (Use appropriate factor from the table provided.)

rev: 10_27_2016_QC_CS-67475