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Required information

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On January $1,2022,$ Learned, Incorporated, issued $$105$ million face amount of $20-$year, $14\%$ stated rate bonds when market.interest rates were $16\%.$ The bonds pay interest semiannually each June $30$ and December $31$ and mature on December $31,2041.$ Table $6-4,$ Table $6-5$

Note: Use appropriate factor from the table provided.

Required:

a$.$ Calculate the proceeds $($issue price$)$ of Learned Incorporated's, bonds on January $1,2022,$ assuming that the bonds were sold to provide a market rate of return to the investor.

Note: Round PV factor to $4$ decimal places. Enter your answers in dollars, rather than in millions of dollars.

$93,210,438$