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Posted on Aug 12, 2024

On September 3 0 , 2 0 2 4 , the Techno Corporation issued 8 % stated rate bonds with a face amount of $

On September

30, 2024,

the Techno Corporation issued

8 %

stated rate bonds with a face amount of $

280

million. The bonds mature on September

30, 2044 (20

years

) .

The market rate of interest for similar bonds was

10 % .

Interest is paid semiannually on March

31

and September

30 .

Required: Determine the price of the bonds on September

30, 2024 .

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