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On September 30, 2021, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $300 million. The bonds mature on September
On September 30, 2021, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $300 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. (FV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $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.) > Answer is complete but not entirely correct. Table values are based on: n = 300000000 i = 44% x Cash Flow Amount Present Value Interest $ 242 $205,909,080 Principal $ 424 x 232,442 X Price of bonds $ 248,524,080
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