Question: A company issued 8 % , 2 0 - year bonds with a face amount of $ 7 2 million. The market yield for bonds

A company issued 8%,20-year bonds with a face amount of $72 million. The market yield for bonds of similar risk and maturity is 9%. Interest is paid semiannually. At what price did the bonds sell?
Note: Do not round intermediate calculations and round you final answer to nearest whole dollar. Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)
Price of bonds
A company issued 8%,20-year bonds with a face amount of $72

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