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Siman, is in need of funding to expand their operations and open a flagship showroom....

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Accounting

Siman, is in need of funding to expand their operations and open a flagship showroom. To secure the necessary capital, Siman decides to issue a bond. The bond has a face value of $30,000,000 and is issued on July 1, 2023. It offers an annual interest rate of 8% and has a maturity period of 10 years. The market rate for similar bonds is 10%. What is the price that the bond will be issued at on July 1,2023?

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