3-b. The bonds will issue at

multiple choice

• A Discount

• A Premium

• Face amount

Required information [The following information applies to the questions displayed below.] On January 1,2021 , Frontier World issues $40.2 million of 7% bonds, due in 10 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. 2-a. If the market rate is 7%, calculate the issue price. (EV of $1,PV of $1,FVA of $1, 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.)