On January 1, 2024, Rare Bird Limited purchased 15% bonds dated January 1, 2024, with a face amount of $40 million. The bonds mature in 2034 (10 years). For bonds of similar risk and maturity, the market yield is 10%. Interest is paid semiannually on June 30 and December 31 . Required: Determine the price of the bonds on January 1, 2024. Note: Use tables, Excel, or a financial calculator. Enter your answer in whole dollars. (FV of $1,PV of $1,FVA of $1, PVA of $1, FVAD of \$1 and PVAD of \$1)