Required information

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On January $1,2021,$ Frontier World issues $$40\mathrm{.}3$ million of $8\%$ bonds, due in $15$ 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 $9\%,$ 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.$)$

$3-$b$.$ The bonds will issue at

A Discount

A Premium

Face amount