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Exercise 6-17 Price of a bond [LO6-9] On September 30, 2018, the San Filipo Corporation issued 8% stated rate bonds with a face amount of
Exercise 6-17 Price of a bond [LO6-9] On September 30, 2018, the San Filipo Corporation issued 8% stated rate bonds with a face amount of $300 million. The bonds mature on September 30, 2038 20 years). The market rate of interest for similar bonds was 10%, nterestis paid semiannually on March 31 and September 30. (FV 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.) 10 oints Required: 0118:52Determine the price of the bonds on September 30, 2018. (Enter your answers in whole dollars. Round your final answers to nearest References Table values are based on: 20 10% Amount Present Value Cash Flow Interest Principal Price of bonds 42,600,000
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