Question: please help explain step by step how you solve for issuance price. is there a formula? I took interest payments*PVA at 6% for 20 yrs



please help explain step by step how you solve for issuance price. is there a formula?
I took interest payments*PVA at 6% for 20 yrs + face value*PV. why is that wrong?
Required information [The following information applies to the questions displayed below.] On January 1 of this year, Cunningham Corporation issued bonds with a face value of $218,000 and a coupon rate of 6 percent. The bonds mature in 20 years and pay interest annually every December 31 . When the bonds were the annual market rate of interest was 8 percent. The company uses the effective-interest amortization method. By 31 of this year, the annual market rate of interest had increased to 10 percent. (FV of $1,PV of $1,FVA of $1, and PVA of $1 ) Note: Use appropriate factor(s) from the tables provided. Required: 1. What is the issuance price of the bonds on January 1 ? Note: Round your intermediate calculations and final answer to nearest whole dollar amount. Answer is complete but not entirely correct. Present Value of $1 Present Value of Annuity of $1
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