Question - The note about debt included in the financial statements of Healdsburg Company for the year ended December 31, 2015 disclosed the following:
Debt. The following table summarizes the long-term debt of the Company at December 31, 2015. All of the notes were issued at their face (maturity) value.
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7.50% notes due 2016
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$ 205,400,000
|
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8.00% notes due 2023
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$ 349,200,000
|
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8.25% notes due 2030
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$ 230,000,000
|
|
7.88% notes due 2038
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$ 205,000,000
|
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6.80% notes due 2017
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$ 25,500,000
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Assuming that the notes pay interest annually and mature on December 31 of the respective years. (FV of $1,PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
Required: Compute the total cash interest payments in 2016 for these notes?