Question: Ultimate Butter Popcorn issues 7%, 20-year bonds with a face amount of $41,000. The market interest rate for bonds of similar risk and maturity

Ultimate Butter Popcorn issues 7%, 20-year bonds with a face amount of $41,000. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid semiannually. At what price will the bonds issue? (FV of $1, PV of $1. FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Round "Market Interest rate" to 1 decimal place.) Answer is complete but not entirely correct. Bond Characteristics Amount Face amount S 41,000 Interest payment S 1,435 Market interest rate. 3.0% Periods to maturity 20 Issue price $ 45.739

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