! Required information [The following information applies to the questions displayed below.] On January 1, 2021, Frontier World issues $40.2 million of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. The proceeds will be used to build a new ride that combines a roller coaster, a water ride, a dark tunnel, and the great smell of outdoor barbeque, all in one ride. Required: 1-a. If the market rate is 6%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Enter your answers in dollars not in millions. Round "Market interest rate" to 1 decimal place. Round your final answers to the nearest whole dollar.) > Answer is complete but not entirely correct. Bond Characteristics Amount Face amount $ 40,200,000 Interest payment $ 1,407,000 Periods to maturity 20 Market interest rate 14.2% x Issue price $ 40,200,000 x