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Rodgers Corporation produces and sells football equipment. On July 1 , 2 0 Y 1 , Rodgers issued $ 5 2 , 8 0 0

Rodgers Corporation produces and sells football equipment. On July 1,20Y1, Rodgers issued $52,800,000 of 10-year, 11% bonds at a market (effective) interest rate of 9%, receiving cash of $59,668,050. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year.
Compute the price of $59,668,050 received for the bonds by using the Present value at compound interest, and Present value of an annuity. Round your PV values to 5 decimal places and the final answers to the nearest dollar. Your total may vary slightly from the price given due to rounding differences.

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