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A company issued 4%, 10-year bonds with a face amount of $78 million. The market yield for bonds of similar risk and maturity is 5%.

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A company issued 4%, 10-year bonds with a face amount of $78 million. The market yield for bonds of similar risk and maturity is 5%. Interest is paid semiannually. At what price did the bonds sell? (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. Enter your answers in whole doll 1. Enter your answers in whole dollars. Round final answers to the nearest whole dollar.) Table values are based on: n = Amount Present Value Cash Flow Interest Principal Price of bonds

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