Question: Ultimate Butter Popcorn issues 7%, 20-year bonds with a face amount of $44,000. The market interest rate for bonds of similar risk and maturity is

Ultimate Butter Popcorn issues 7%, 20-year bonds with a face amount

Ultimate Butter Popcorn issues 7%, 20-year bonds with a face amount of $44,000. 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.) Bond Characteristics Amount $ 44,000 Face amount Interest payment Market interest rate Periods to maturity Issue price

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