Ultimate 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.)

Face Amount -

Interest Payment -

Market Interest Rate -

Periods to Maturity -

Issue Price -