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E Company issued $10,000, 5% bonds on January 1, Year 1. The bonds pay interest on June 3 and December 31 and mature on December 31, Year 5. The market rate of interest for similar bonds was 6% on the date of issue.

Determine the selling price of the bonds.

Note: Give your answer using dollar signs and commas but not decimal points (cents).

Example: $12,345