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On September 30, 2021, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $120 million. The bonds mature on September
On September 30, 2021, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $120 million. The bonds mature on September 30, 2041 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30. (CEV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of S1 and PVAD 5.1) (Use appropriate factor(s) from the tables provided.) Required: Determine the price of the bonds on September 30, 2021. (Enter your answers in whole dollars. Round your final answers to nearest whole dollar amount.) Table values are based on: n = 20: Cash Flow Amount Present Value Interest Principal Price of bonds Score answer > 8 of 10
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