13 Required information Exercise 9-18A Calculate the issue price of bonds (L09-7) [The following information applies to the questions displayed below) On January 1, 2021, Frontier World issues $400 million of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. The proceeds will be used to build a new ride that combines a roller coaster, a water ride, a dark tunnel, and the great smell of outdoor barbeque, all in one ride Part tot 5.55 points Exercise 9-18A Part 1 000 Hire Required: P 1-a. If the market rate is 7%, calculate the issue price. (FV of $1. PV of S1, EVA of S1, and PVA of $1 (Use appropriate factor(s) from the tables provided. Do not round Interest rate factors. Enter your answers in dollars not in millions. Round Market Interest rate" to 1 decimal place. Round your final answers to the nearest whole dollar.) Amount 40,000,000 $ Bond Characteristics Face amount Interest payment Periods to maturity