#9 i Saved Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate c On January 1, 2024, Ocean World issues $40.9 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. Required: 1-a. If the market rate is 7%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1) 1-b. Will the bonds issue at face amount, a discount, or a premium? > Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req la Req 1b If the market rate is 7%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Enter your answers in dollars not in millions (i.e., $5.5 million should be entered as 5,500,000). Round your final answers to the nearest whole dollar.) Bond Characteristics Amount Face amount $ 40,900,000 Interest payment $ 1,636,000 Number of periods 30 Market interest rate 3.5% Issue price $ 40,900,000 x < Req 1a Req 1b > S < Prev 15 16 17 of 17 Next > *************