On June 30, 2024, Single Computers issued 7% stated rate bonds with a face amount of $200 million. The bonds mature on June 30, 2039 (15 years). The market rate of interest for similar bond issues was 5% (2.5% semiannual rate). Interest is paid semiannually (3.5%) on June 30 and December 31, beginning on December 31, 2024. Note: Use Excel, or a financial calculator. Required: Determine the price of the bonds on June 30, 2024. Calculate the interest expense Single reports in 2024 for these bonds using the effective interest method