Question: Brief Exercise 1 4 - 4 ( Static ) Determining the price of bonds [ LO 1 4 - 2 ] A company issued 5

Brief Exercise 14-4(Static) Determining the price of bonds [LO14-2]
A company issued 5\%,20-year bonds with a face amount of \(\$ 100\) million. The market yield for bonds of similar risk and maturity is \(4\%\). Interest is paid semiannually. At what price did the bonds sell?
Note: Do not round intermediate calculations. Round your final answer to the 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)
Answer is complete but not entirely correct.
Brief Exercise 1 4 - 4 ( Static ) Determining the

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