Current Attempt in Progress

Cullumber Suit Ltd$.$ designs and manufactures anti$-$gravity suits used by air force pilots and astronauts for space travel. To finance the

expansion of its manufacturing operations, the company, in consultation with an investment bank, decided to issue bonds. On August

$1,$ it issued $10-$year, semi$-$annual bonds with a face value of $$140,000,000.$ The contract rate on the bonds was $10\%$ and the proceeds

on the issuance of the bonds were $$131,628,000$ to yield $11\mathrm{.}0\%.$ Interest payments are to be made each January $31$ and July $31.$

$($a$1)$

Determine the price of the bonds on issuance. $($Round answer to $4$ decimal places, e$.$g$.15\mathrm{.}2516.)$

Price of the bonds on issuance