On the last day of its fiscal year ending December 31, 2016, the Boatright Ship Bui 6% stated rate bonds with a face amount of $20 million. The bonds mature o 2036 (20 years). The market rate of interest for similar bond issues was 8% ( rate) Interest is paid semiannually (3%) on June 30 and Dece 2017. Calculate the purchase price of the bonds. 18 points lders issued n December 31, 4% semiannual mber 31, beginning on June 30