Whale Inc. leased equipment from Dolphin Leasing Co. on July 1, 2021, in a sales-type lease. The present value of the lease payments discounted at 8% was $90,000. Nine annual lease payments of $14,000 are due each July 1, beginning July 1, 2021. The total decrease in earnings (pretax) in Whale's Dec. 31, 2021, income statement would be:

Bonds often pay a coupon twice a year. for the valuation of bonds that make semiannual payments, the number of periods doubles, whereas the amount of cash flow decreases by half. using the values of cash flows and number of periods, the valuation model is adjusted accordingly. assume that a $1,000,000 par value, semiannual coupon us treasury note with three years to maturity has a coupon rate of 3%. the yield to maturity (ytm) of the bond is 7.70%. using this information and ignoring the other costs involved, calculate the value of the treasury note: