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Req $1$aReq $1$b

If the market rate is $8\%,$ calculate the issue price. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)($Use appropriate factor$($s$)$ from the tables provided. Enter your answers in dollars not in millions $($i$.$e$.,$ $$5\mathrm{.}5$ million should be entered as $5,500,000).$ Round your final answers to the nearest whole dollar.$)$

Bond Characteristics

Amount

Face amount $$41,000,000$

Interest payment $$1,845,000$

Number of periods $40$

Market interest rate $4\%$

Issue price