Question: please explain and solve this problem On June 30,2024 , Single Computers issued 5% stated rate bonds with a face amount of $320 million. The

please explain and solve this problem

On June 30,2024 , Single Computers issued 5% stated rate bonds with a face amount of $320 million. The bonds mature on June 3 2039 ( 15 years). The market rate of interest for similar bond issues was 4%(2.0% semiannual rate). Interest is paid semiannually (2.5 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: 1. Determine the price of the bonds on June 30,2024 . 2. Calculate the interest expense Single reports in 2024 for these bonds using the effective interest method. Complete this question by entering your answers in the tabs below. Determine the price of the bonds on June 30,2024. Note: Round percentage answers to one decimal place. Round your final answers to nearest whole dollar amount, not in millions. Complete this question by entering your answers in the tabs below. Calculate the interest expense Single reports in 2024 for these bonds using the effective interest method. Note: Enter all the values as positive value. Round your final answers to nearest whole dollar amount, not in millions

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