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. Required: -a. If the market rate is 7%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the ables 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 Face amount Interest payment Amount $ 40,300,000 $ 1,612,000 Periods to maturity 30 Market interest rate 3.5% Issue price $ 14,105,000 -b. The bonds will issue at