Question: On December 31, 2016. Interlink Communications issued 7% stated rate bonds with a face amount of $120 million. The bonds mature on December 31, 2046.

On December 31, 2016. Interlink Communications issued 7% stated rate bonds

On December 31, 2016. Interlink Communications issued 7% stated rate bonds with a face amount of $120 million. The bonds mature on December 31, 2046. Interest is payable annually on each December 31, beginning in 2017. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)(Use appropriate factor(s) from the tables provided.) Determine the price of the bonds on December 31, 2016, assuming that the market rate of interest for similar bonds was 8%

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