A company borrows $$20,000,000$ by issuing sinking fund bonds. The bonds are $20-$years bonds and will pay semi$-$annual coupons at a rate of $8\%.$ The company will save to provide for the retirement of the debt by making semi$-$annual deposits of $$368,542\mathrm{.}03$ in a bank account earning interest at a rate of $3\%$ compounded semi$-$annually. Calculate the book value of the debt after $17$ yearsA company borrows $$20,000,000$ by issuing sinking fund bonds. The bonds are $20-$

years bonds and will pay semi$-$annual coupons at a rate of $8\%.$ The company will save

to provide for the retirement of the debt by making semi$-$annual deposits of

$$368,542\mathrm{.}03$ in a bank account earning interest at a rate of $3\%$ compounded semi$-$

annually. Calculate the book value of the debt after $17$ years.