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CPT 5 HW #9. On Sept 31, 2021, the San Fillipo Corp issued 8% stated rate bonds with a face amount of $180 million. The

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CPT 5 HW #9. On Sept 31, 2021, the San Fillipo Corp issued 8% stated rate bonds with a face amount of $180 million. The bonds mature on Sept 30, 2041 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and Sept 30. Using the Present and Future Value tables, determine the price of the bonds on Sept 30, 2021. n = 40 Table values are based on: 40 (20 yr x 2) 4y = 5 5 (10% / 2 = 5%) Fv=180,000,000 Cash Flow Amount Present value Interest 720Q000 (8%/2) Principal $180,000,000 $ 25,569,000 (PV, n = 40, 1 = 5 = 0.14205) Price of bonds n=

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