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Exercise 5-21 (Algo) Price of a bond [LO5-9, 5-10] On September 30, 2024, the Techno Corporation issued 8% stated rate bonds with a face amount
Exercise 5-21 (Algo) Price of a bond [LO5-9, 5-10] On September 30, 2024, the Techno Corporation issued 8% stated rate bonds with a face amount of $220 million. The bonis mature on September 30, 2044 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semannually on March 31 and September 30 . Required: Determine the price of the bonds on September 30,2024. Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount, not in millions. (IVV of \$1. PV of \$1. PVA of S1, PVA of S1, FVAD of \$1 and PVAD of S11
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