On December 31, 2018, Interlink Communications issued 6% stated rate bonds with a face amount of $104 million. The bonds mature on December 31, 2048. Interest is payable annually on each December 31, beginning in 2019. (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.) Determine the price of the bonds on December 31, 2018, assuming that the market rate of interest for similar bonds was 7%

Table values are based on:
n =	30
i =	7%
Cash Flow	Amount	Present Value
Interest
Principal
Price of bonds