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A company issued 7%, 20-year bonds with a face amount of $72 million. The market yield for bonds of similar risk and maturity is 8%.

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A company issued 7%, 20-year bonds with a face amount of $72 million. The market yield for bonds of similar risk and maturity is 8%. 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) (Enter your answer in whole dollars.) Price of bonds $ 64,875,390

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