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! B Required information Exercise 9-18B Calculate the issue price of bonds (LO9-7) [The following information applies to the questions displayed below.] On January 1, Year 1, a company issues $39.5 million of 8% bonds, due in 15 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 9-18B Part 1 es Required: 1-a. If the market rate is 7%, 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. Do not round interest rate factors. Enter your answers in dollars not in millions. Round "Market interest rate" to 1 decimal place. Round your final answers to the nearest whole dollar.) Bond Characteristics Amount 39,500,000 $ $ 6 Face amount Interest payment Periods to maturity Market interest rate 15 1.0% Issue price