Question: Ultimate Butter Popcorn issues 7%, 20-year bonds with a face amount of $60,000. 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 $60,000. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid semiannually.

At what price will the bonds issue?

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