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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. Required: 1-a. If the market rate is 7%, calculate the issue price. (FV or $1. PV of $1. EVA 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
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