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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.
Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount, not in millions. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)
\table[[Time values are based on:],[n=,,40,],[i=,,5%,],[Cash Flow,,Amount,Present Value],[Interest,$,11,200,000,],[Principal,$,280,000,000,],[Price of bonds,231,954,558
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