Question: Ultimate Butter Popcorn issues 7%, 20-year bonds with a face amount of exist51.000. The market interest rate for bonds of similar risk and maturity is

Ultimate Butter Popcorn issues 7%, 20-year bonds with a face amount of exist51.000. The market interest rate for bonds of similar risk and maturity is 8%. Interest is paid semiannually. At what price will the bonds issue? (FV of exist1, PV of exist1, FVA of exist1, and PVA of exist1) (Use appropriate factor(s) from the tables provided. Do not round Interest rate factors. Round "Market decimal place.)

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