On June $30,2024,$ single Computers issued $5\%$ stated rate bonds with a face amount of $$280$ million. The bonds mature on June $30,2039(15$ years$).$ The market rate of interest for similar bond issues was $4\%(2\mathrm{.}0\%$ semiannual rate$).$ Interest is paid semiannually $(2\mathrm{.}5\%)$ on June $30$ and December $31,$ beginning on December $31,2024.$

Note: 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)$

Required:

Determine the price of the bonds on June $30,2024.$

Calculate the interest expense Single reports in $2024$ for these bonds using the effective interest method.