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On December 31, 2021, Interlink Communications issued 4% stated rate bonds with a face amount of $114 million. The bonds mature on December 31, 2051.
On December 31, 2021, Interlink Communications issued 4% stated rate bonds with a face amount of $114 million. The bonds mature on December 31, 2051. Interest is payable annually on each December 3t, beginning in 2022. (EV of \$1. PV of S1. EVA of S1, PVA of S1. EVAD of \$l and PVAD of 51 (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 doliar amount.)
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