Cap Art, Inc., is considering the sale of two bond issues. Choice A is a $400,000 bond issue that pays semiannual interest of $32,000 and is due in 20 years. Choice B is a

$400,000 bond issue that pays semiannual interest of $30,000 and is due in 15 years.

Assume that the market interest rate for each bond is 1 2 percent. Calculate the amount that Cap Art will receive if both bond issues occur. (Calculate the present value of each bond issue and sum.)SE-1