On February 1, 2016, Cromley Motor Products issued 9% bonds, dated February 1, with a face amount of $ 80 million. The bonds mature on January 31, 2020 ( 4 years). The market yield for bonds of similar risk and maturity was 10%. Interest is paid semiannually on July 31 and January 31. Using Excel, determine the price of the bonds issued on February 1, 2016.

Please attache spreadsheet