A 20 year bond is issued with a face amount of $2,000,000, a stated rate of 7%, and is paid semi-annually. The current market rate is 6%. What is the present value of the bond? 7%, 20 Periods 3.5%, 40 periods 6%, 20 periods 3%, 40 periods Present Value $1 0.25842 0.25257 0.31180 0.30656 Future Value $1 3.86968 3.95926 3.20714 3.26204 Present Val. Annuity 10.59401 21.35507 11.46992 23.11477 Future Val. Annuity 40.99549 84.55028 36.78559 75.40126