Question: On September 3 0 , 2 0 2 4 , the Techno Corporation issued 8 % stated rate bonds with a face amount of $

On September 30,2024, the Techno Corporation issued 8% stated rate bonds with a face amount of $280 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.
Required:
Determine the price of the bonds on September 30,2024.
Required:
Calculate the amount at which President should record the note payable and corresponding purchase on September 30,2024, assuming that an interest rate of 10% properly reflects the time value of money in this situation.

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