On January 1, 2015, Frontier World issues $41 million of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. The proceeds will be used to build a new ride that combines a roller coaster, a water ride, a dark tunnel, and the great smell of outdoor barbeque, all in one ride.

References Section BreakExercise 9-3 Calculate the issue price of bonds (LO3) 5.value: 3.00 pointsRequired information Exercise 9-3 Part 1 Required: 1-a. If the market rate is 8%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Enter your answers in dollars not in millions.)

ercise 9-3 Part 1

Required:

1-a.	If the market rate is 8%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Enter your answers in dollars not in millions.)

interest payment:

market interest rate:

periods to maturity:

issue price:

If the market rate is 9%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Enter your answers in dollars not in millions. Round "Market interest rate" to 1 decimal place.)

interest payment:

market interest rate:

periods to maturity:

issue price:

the market rate is 10%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1)

interest payment:

market interest rate:

periods to maturity:

issue price: