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A company issued 5%,10-year bonds with a face amount of $100 million. The market yield for bonds of similar risk and maturity is 4%. Interest
A company issued 5%,10-year bonds with a face amount of $100 million. The market yield for bonds of similar risk and maturity is 4%. Interest is paid semiannually. At what price did the bonds sell? Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar. Use tables, Excel, or a financial calculator.(EV of $1,PV of $1,EVA of $1, PVA of $1, EVAD of $1 and PVAD of \$1)
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