Brief Exercise 5-20 (Algo) Price of a bond [LO5-10] On December 31, 2024, a company issued 7% stated rate bonds with a face amount of $103 million. The bonds mature on December 31, 2054. Interest is payable annually on each December 31, beginning in 2025 . Determine the price of the bonds on December 31, 2024, assuming that the market rate of interest for similar bonds was 8%. Note: Use tables, Excel, or a financial calculator. Enter your answers in whole dollars and not in millions. (FV of \$1, PV of \$1. FVA of. $1, PVA of \$1, EVAD of \$1 and PVAD of \$1)