#1 On January 1, 2017 Leticia Musgrove Corporation issued five-year bonds with a face value of $400,000 and a stated interest rate of 12% payable semiannually on July 1 and January 1. Present value table factors are: Present value of 1 for 5 periods at 10%(.62092) Present value of 1 for 5 periods at 12%(.56743) Present value of 1 for 10 periods at 5%(.61391) Present value of 1 for 10 periods at 6%(.55839) Present value of an ordinary annuity of 1 for 5 periods at 10%(3.79079)Present value of an ordinary annuity of 1 for 5 periods at 12% (3.60478)Present value of an ordinary annuity of 1 for 10 periods at 5% (7.72173)Present value of an ordinary annuity of 1 for 10 periods at 6%(7.36009) Calculate the issue price of the bonds.