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Required Information [The following information applies to the questions displayed below) On January 1, 2021,...

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Accounting

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Required Information [The following information applies to the questions displayed below) On January 1, 2021, Frontier World Issues $40.3 million of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. The proceeds will be used to build a new ride that combines a roller coaster a water ride, a dark tunnel, and the great smell of outdoor barbeque, all in one nde. Required: 1-a. If the market rate is 7%, calculate the issue price. V of $1. PV of $1. FVA of $3 and PVA of $u (Use appropriate factors from the tables provided. Do not round Interest rate factors. Enter your answers in dollars not in millions. Round Market interest rate to 1 decimal place. Round your final answers to the nearest whole dollar) Bond Characteristics Face amount Amount 40,300.000 Periods to maturity Market interest rate Issue price 1-5. The bonds will issue at A Discount A Premium Face amount

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