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Exercise 5-16 (Algo) Price of a bond (LO5-9, 5-10) On September 30, 2021, the San Fillipo Corporation issued 8% stated rate bonds with a face

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Exercise 5-16 (Algo) Price of a bond (LO5-9, 5-10) On September 30, 2021, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $100 million. The bonds mature on September 30, 2041 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30, (EV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Determine the price of the bonds on September 30, 2021. (Enter your answers in whole dollars. Round your final answers to nearest whole dollar amount.) Table values are based on: n 40 5% Cash Flow Amount Interest 5 4,000,000 Principal $ 100,000,000 Price of bonds $ Present Value 68,636,400 14,200,000 3 82,836,400

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