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A company issued 6%, 20-year bonds with a face amount of $76 million. The market yield for bonds of similar risk and maturity is 7%.

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A company issued 6%, 20-year bonds with a face amount of $76 million. The market yield for bonds of similar risk and maturity is 7%. 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 S1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Enter your answers in whole dollars. Round final answers to the nearest whole dollar.) Table values are based on: n a 40 3.0% h Flow Amount Present Value Interest Principal S 76,000,000 Price of bonds

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