Determining the price of the bonds, Accounting Basics

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Determining the price of the bonds

Question: On September 30, 2021, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $180 million. The bonds mature on September 30, 2041 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30.

Required: Determine the price of the bonds on September 30, 2021.

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Accounting Basics: Determining the price of the bonds

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