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Please show work, thank you. On September 30, 2021, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $180 million.
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On September 30, 2021, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $180 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, FVA of $1,PVA of $1,FVAD 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.)Step by Step Solution
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