Buffalo Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of
a new plant to meet the increasing demand for the company's bikes. After a careful evaluation of the request, the board of directors
has decided to raise funds for the new plant by issuing $ of term corporate bonds on March due on March
with interest payable each March and September At the time of issuance, the market interest rate for similar financial
instruments is
Click here to view factor tables.
As the controller of the company, determine the selling price of the bonds. Round factor values to decimal places, eg and final
answer to decimal places, eg
Selling price of the bonds $
