White & Decker Corporation's $2024$ financial statements included the following information in the long$-$term debt disclosure note:

Zero$-$coupon subordinated debentures, due $2039$: $\frac{(\text{\$}in\text{m}\text{i}\text{l}\text{l}\text{i}\text{o}\text{n}\text{s})}{2024}$

The disclosure note stated the debenture bonds were issued late in $2019$ and have a maturity value of $$690$ million. The maturity value indicates the amount that White & Decker will pay bondholders in $2039.$ Each individual bond has a maturity value $($face amount$)$ of $$1,190.$ Zero$-$coupon bonds pay no cash interest during the term to maturity. The company is "accreting" $($gradually increasing$)$ the issue price to maturity value using the bonds' effective interest rate computed on an annual basis.

Required:

Determine the effective interest rate on the bonds.

Determine the issue price in late $2019$ of a single, $$1,190$ maturity$-$value bond.

Note: For all requirements, round your answers in millions to $2$ decimal places. For example, $$555\mathrm{.}55$ million should be entered as $555\mathrm{.}55.($FV of $$1,PV$ of $$1,$FVA of $$1,$PVA of $$1,$FVAD of $$1$ and PVAD of $$1)$

$\backslash$table$[[1.$ Effective interest rate,$\%$