Exercise 9-19B Calculate the issue price of bonds (LO9-7) [The following information applies to the questions displayed below.) On January 1, Year 1, a company issues $24.7 million of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. The company intends to use the funds to build the world's largest water avalanche and the "tornado"- a giant outdoor vortex in which riders spin in progressively smaller and faster circles until they drop through a small tunnel at the bottom Exercise 9-19B Part 1 Required: 1-a. If the market rate is 6%, calculate the issue price. (FV of $1. PV of $1. EVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Round "Market interest rate" to 1 decimal place. Enter your answers in dollars not in millions. Round your final answers to the nearest whole dollar.) $ Bond Characteristics Face amount Interest payment Periods to maturity Market Interest rate Issue price Amount 24,700,000 1,230,899 $ 1-b. The bonds will issue at O A Discount O A Premium O Face amount