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thank you! On September 30, 2021, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $400 million. The bonds mature
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On September 30, 2021, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $400 million. The bonds mature on September 30, 2041 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30. (V of S1, PV of $1. FVA of S1, PVA of $1. FVAD of $1 and PVAD of 5) (Use appropriate factor(s) from the tables provided.) Required: Determine the price of the bonds on September 30, 2021. (Enter your answer on the bottom line, LEAVE ALL OTHER SPACES BLANK IN THE TABLE. Enter your answers in whole dollars. Round your final answers to nearest whole dollar amount.) ces Price of bonds Step by Step Solution
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