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On January 1, 2024, Rare Bird Limited purchased 15% bonds dated January 1, 2024, with a face amount of $32 million The bonds mature in

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On January 1, 2024, Rare Bird Limited purchased 15% bonds dated January 1, 2024, with a face amount of $32 million The bonds mature in 2034 (10 years). For bonds of similor risk and maturity, the matket yield is 12%. Interest is paid semiannually on June 30 and December 31 Required: Determine the price of the bonds on January 1,2024 olS1 and PVAD of 51)

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