The city of Naples issues $50 million of 20 year bonds on January 1,2023 with a stated annual rate of 6%. The Chapter 9: Long-Term Liabilities Name bonds pay interest semiannually on June 30 and December 31. Cash interest payments are based on the stated rate on the bonds. The current market rate is 6.50% which is higher than the stated rate. A portion of the bond amortization schedule appears below: 1 Determine the pric Factor Table. Calculator Answer the following