On September $30,2024,$ the Techno Corporation issued $8\%$ stated rate bonds with a face amount of $$200$ million. The bonds mature on September $30,2044(20$ years$).$ The market rate of interest for similar bonds was $10\%.$ Interest is paid semiannually on March $31$ and September $30.$

$1$

points

Required:

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

Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount, not in millions. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

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References

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