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Hello, I'm currently having trouble fully solving this accounting problem. The problem is displayed below, and thank you for your help + time. On September
Hello, I'm currently having trouble fully solving this accounting problem. The problem is displayed below, and thank you for your help + time.
On September 30, 2021, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $300million, 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. (FV of \$1. PV of \$1. FVA of \$1. PVA of \$1. FVAD of \$1 and PVAD of \$1) (Use appropriate factor(5) 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.) Step by Step Solution
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