Question: On December 31, 2018, Interlink Communications issued 7% stated rate bonds with a face amount of $120 million. The bonds mature on December 31, 2048.

On December 31, 2018, Interlink Communications issued 7% stated rate bonds with a face amount of $120 million. The bonds mature on December 31, 2048. Interest is payable annually on each December 31. beginning in 2019. (FV of $1. PV of $1, FVA of SI, PVA of $ FVAD of $1 and PVAD of $1) (Use oppropriate foctor(s) from the tables provided.) Determine the price of the bonds on December 31, 2018, assuming that the market rate of interest for similar bonds was 8% (Enter your answers In whole dollars. Round your final answers to nearest whole doller amount.) 8% Interest Principal Price of bonds

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