Present value of bonds payable; discount Pinder Co. produces and sells high-quality video equipment. To finance its operations, Pinder issued $24,000,000 of 4year,9% bonds, with interest payable semiannually, at a market (effective) interest rate of 11%. This information has been collected in the Microsoft Excel Onine file. Open the spreadsheet, perform the required analysis; and input your answers in the question below. Open spreadsheet Determine the present value of the bonds payabie. Round your answer to the nearest dollar