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[ The following information applies to the questions displayed below. ] On January 1 , 2 0 2 4 , Ocean World issues $ 3

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[The following information applies to the questions displayed below.]
On January 1,2024, Ocean World issues $39.4 million of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. The proceeds will be used to build a new ride that combines a roller coaster, a water ride, a dark tunnel, and the great smell of outdoor barbeque, all in one ride.
2-a. If the market rate is 9%, calculate the issue price. (EV of $1,PV of $1,FVA of $1, and PVA of $1)
2-b. Will the bonds issue at face amount, a discount, or a premium?
Complete this question by entering your answers in the tabs below.
If the market rate is 9%, calculate the issue price.(FV of $1,PV of $1, FVA of $1, and PVA of $1)(Use appropriate factor(s) from the tables provided. Enter your answers in dollars not in millions (i.e, $5.5 million should be entered as 5,500,000). Round your final answers to the nearest whole dollar.)
\table[[Bond Characteristics,Amount],[Face amount,$
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