Brief Exercise $14-2($Algo$)$ Determining the price of bonds $[$LO$14-2]$

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?

Note: Do not round intermediate calculations and round you final answer to nearest whole dollar. Use tables, Excel, or a financial calculator. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$