What is the issue price?

Required information Exercise 9-21 (Algo) Calculate the issue price of bonds (L09-7) [The following information applies to the questions displayed below.] On January 1, 2024, Tropical World issues $40.8 million of 7% bonds, due in 10 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. Exercise 9-21 (Algo) Part 3 FV of $1, pv of $1, FVA of $1, and PVA of $1) 3-a. If the market rate is 8%, calculate the issue price. ( 3-b. Will the bonds issue at face amount, a discount, or a premium? Complete this question by entering your answers in the tabs below. Req 3a Req 3b If the market rate is 8%, 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.) Bond Characteristics Face amount Interest payment Number of periods Market interest rate Issue price Amount 20 Req 3b