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Required information The following information applies to the questions displayed below.) On January 1, 2021. Wild Rapids Water Park issues $40.0 million of 8% bonds
Required information The following information applies to the questions displayed below.) On January 1, 2021. Wild Rapids Water Park issues $40.0 million of 8% bonds to finance expansion. The bonds are due In 15 years, with interest payable semiannually on June 30 and December 31 each year, 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.) Amount $ 40,000,000 Bond Characteristics Face amount Interest payment Periods to maturity Market interest rate Issue price 2.b. The bonds will issue at A Discount
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