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On December 31, 2021, Interlink Communications issued 4% stated rate bonds with a face amount of $117 million. The bonds mature on December 31, 2051.

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On December 31, 2021, Interlink Communications issued 4% stated rate bonds with a face amount of $117 million. The bonds mature on December 31, 2051. Interest is payable annually on each December 31, beginning in 2022. (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, 2021, assuming that the market rate of interest for similar bonds was 5%. (Round your final answers to nearest whole dollar amount.) Table values are based on: no i = Cash Flow Amount Interest Principal Price of bonds Present Value

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