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t-18 please help! On January 1, 2024, Bishop Company issued 8% bonds dated January 1, 2024, with a face amount of $31 million. The bonds

t-18 please help! image text in transcribed
On January 1, 2024, Bishop Company issued 8% bonds dated January 1, 2024, with a face amount of $31 million. The bonds mature in 2034 (10 years). For bonds of similar risk and maturity, the market yield is 10\%. Interest is paid semiannually on June 30 and December 31. Required: Determine the price of the bonds on January 1, 2024. Note: Use tables, Excel, or a financial calculator, Enter your answer in whole dollars. (FV of S1, PV of S1, EVA of \$1, PVA of \$1, EVAD of S1 and PVAD of S1)

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