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Uitimate Butter Popcorn issues 7%,20-year bonds with a face amount of $44,000. The market interest rate for bonds of similar risk and maturity is 6%.

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Uitimate Butter Popcorn issues 7%,20-year bonds with a face amount of $44,000. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid semiannually. At what price will the bonds issue? (FV of \$1. PV of \$1, FVA of \$1, and PVA of \$1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Round "Market interest rate" to 1 decimal place.)

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