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Good Form Required Inc. (GFR) manufactures cycling equipment. The vice president of Operations has requested construction of a new plant to meet the increasing demand

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Good Form Required Inc. (GFR) manufactures cycling equipment. The vice president of Operations has requested construction of a new plant to meet the increasing demand for the company's bikes. After a careful evaluation of the request, the board of directors has decided to raise funds for the new plant by issuing $2 million of 115 term corporate bonds on March 1, 2022 due March 1 2036 with interest payable each March 1 and September 2. Ar the time if issuance, the market interest rate for similar financial instruments was 10% in good form, calculate the selling price of the bonds. Do not use Excel or a Financial Calculator Present value table for your use

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