Question: Please help with the with question below and explain how to get the correct answer. On December 31,2024 , a company issued 6% stated rate

Please help with the with question below and explain how to get the correct answer.

Please help with the with question below and explain how to get

On December 31,2024 , a company issued 6% stated rate bonds with a face amount of $104 million. The bonds mature on Decembe 31, 2054. Interest is payable annually on each December 31 , beginning in 2025. Determine the price of the bonds on December 31, 2024, assuming that the market rate of interest for similar bonds was 7%. Note: Use tables, Excel, or a financial calculator. Enter your answers in whole dollars and not in millions. (FV of $1, PV of $1, FVA $1, PVA of $1, FVAD of $1 and PVAD of $1 )

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