Bond Valuation - The XYZ company planned to finance a project with a bond issue. The bonds have a maturity or face value of $50,000 and a 20 year maturity - 40 periods. The coupon rate is 15% with cash interest paid semiannually. When the bonds were originally proposed the market rate of interest was 10%. What would have been the price of the bonds at this time. It took 18 months to get the bonds approved. The current market rate of interest is 16%. What is the current price of the bonds?

How much did the delay cost the company?