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Required information [ The following information applies to the questions displayed below. ] On January 1 , 2 0 2 1 , Frontier World issues

Required information
[The following information applies to the questions displayed below.]
On January 1,2021, Frontier World issues $40.3 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.
2-a. 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. 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.)
2-b. The bonds will issue at
A Discount
A Premium
Face amount
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