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A company issued 9%, 15-year bonds with a face amount of $100 million. The market yield for bonds of similar risk and maturity is 6%.

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A company issued 9%, 15-year bonds with a face amount of $100 million. The market yield for bonds of similar risk and maturity is 6%. Interest is paid semiannually. At what price did the bonds sell? (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Enter your answers in whole dollars.) 5.88 points Table values are based on: Skipped eBook Amount Present Value References Cash Flow Interest Principal Price of bonds

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