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On January $1,2024,$ Tropical World issues $$40\mathrm{.}8$ 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.

$3-$a$.$ If the market rate is $8\%,$ calculate the issue price. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)$

$3-$b$.$ Will the bonds issue at face amount, a discount, or a premium?

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Req $3$ a

Req $3$b

If the market rate is $8\%,$ 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. Enter your answers in dollars not in millions $($i$.$e$.,$ $$5\mathrm{.}5$ million should be entered as

$5,500,000.$ Round your final answers to the nearest whole dollar.$)$