Present value of bonds payable; discount

Pinder Co$.$ produces and sells high$-$quality video equipment. To finance its operations, Pinder issued $$27,000,000$ of $5-$year, $7\%$ bonds, with

interest payable semiannually, at a market $($effective$)$ interest rate of $10\%.$ This information has been collected in the Microsoft Excel Online file.

Open the spreadsheet, perform the required analysis, and input your answers in the question below.

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Open spreadsheet

Determine the present value of the bonds payable. Round your answer to the nearest dollar.